· At midday, corn is 6 ½ soybeans +1 1/4, Chicago wheat+16 3/4, KC wheat +15 1/2, ,Dec cattle -4.00, Jan feeders -1.825, and Dec hogs -.60.
· Wheat has follow through buying after recording its best export sales in weeks.
· The dollar is sharply lower after taking out the high’s yesterday on European financial concerns and concern they may kick the can down the road on raising interest rates this year.
· Exports sales for the week: Corn 499,400 mln mt (low), Soybeans 878,300 mln mt (low), Wheat 392,200 (high)
· Soybean sale of 132,000 mt of Soybeans to China for 2015/2016 year.
· Informa out with production estimates for SA: Brazil Corn 81.3 mln mt vs. 81.8 last month, Brazil Soybeans 101.4 mln mt up .4 percent; Argentina Corn 21 mln mt up 2.5 mln mt, Argentina Soybeans 58.5 mln mt down .5 mln mt
All opinions expressed in this commentary are solely those of Water Street Advisory. This data and these comments are provided for information purposes only and are not intended to be used for specific trading strategies. Although all information is believed to be reliable, we cannot guarantee its accuracy or completeness. There is significant risk of loss involved in commodity futures and options trading and may not be suitable for all investors.