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Midday Update


Midday Update

* At midday, corn is -5, soybeans are -1, Chicago wheat is -10, KC wheat is -10, Minneapolis wheat is -5, Jan feeders -2.200, Feb fat cattle -1.800, Feb hogs -2.600.
* Soybeans currently climbing their way back after being down 8 1/2. USDA announced a sale of 420,000 MT (15.6 mln bu.) to China this morning sure helping.
* Informa out today with their updated forecasting acreage planting. Soybeans were estimated at 84.54 mln acres vs. previous 85.3 mln and current USDA 82.0. Corn was estimated at 88.93 mln acres vs. previous 90.1 mln and current USDA 90.5.
* Cash cattle in Nebraska have traded today at $117/cwt, according to cash sources.
* US dollar is up sharply this morning which is having a negative impact on commodities. Reason being, the follow through of new Argentine president Macri to allow the peso to float today.
* USDA export sales this morning were at 37.6 mln bushels for soybeans and within expectations. Corn exports were at 26.7 mln bushels and just below expectations. Wheat exports were at 11.8 mln bushels and in the middle of the range of expectations.

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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Aaron Hodge | Market Associate
WATER STREET ADVISORY(r) | www.waterstreet.org
(309) 680-1200 | ahodge@waterstreet.org

Past performance is not indicative of future results. The information contained in this report is intended for informational purposes only and is the opinion of the writer and may change at any time. This information was compiled from sources believed to be reliable but accuracy cannot be and is not guaranteed. There is no warranty, expressed or implied, in regards to this information for any particular purpose. There is SIGNIFICANT RISK involved in trading futures and or options on futures and may not be suitable for all investors. Investors should consider these RISKS and evaluate their suitability based on their financial conditions. No one should ever consider trading futures or options on futures with anything other than RISK CAPITAL. This information is provided freely and is NOT in the capacity of a trading advisor. NO LIABILITY on the part of the author exists for any trading loss you may incur in the use of this information. Information provided is not to be construed as an offer to sell or solicitation to buy any commodity or security named herein.

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