Home Market Market Watch Midday Update

Midday Update


Midday Update

* At midday, corn is -6, soybeans are -9, Chicago wheat is -9, KC wheat is -9, Minneapolis wheat is -6, Jan feeders -1.300, Feb fat cattle -1.000, Feb hogs -.800.
* Federal government will announce today at 1 pm CT on whether or not it will increase interest rates. Also the Argentine government will also have a news conference at 3, and is expected to announce a relaxation of currency controls.
* The EIA crude oil stocks were increased by 4.801 bbls; stocks at 490.66 mln bbls but expected a decline of 1.00 mln bbls. Ethanol production increased by 7,000 bbl up to 1,000,000 bbl/day. Only second time in history production has been this high. As a result stocks grew by .5 at 20.3 mln bbl.
* Cash cattle in Texas have traded today at $118/cwt, according to cash sources.

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.




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