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Midday Update


Midday Update

* At midday, corn is +1, soybeans are +2, Chicago wheat is +3, KC wheat is +1, Minneapolis wheat is +4, Jan feeders -2.200, Feb fat cattle -1.250, Feb hogs +.050.
* Grains are looking a lot better than the start of the morning as really all markets do. Corn is a nickel off the low, beans .04 off of low, crude oil has come back and now up .18 after being down almost 2.00 and traded through a 12 year low. The Dow Jones futures are down 180 points, but earlier were down around 440.
* Export sales this morning for corn were below expectations and at 10.0 mln bushels, soybeans were in the middle of expectations and at 23.5 mln bushels and also there another sale announced to China for 9 mln bushels. Wheat export sales were below expectations at 2.8 mln bushels.
* China’s Shanghai Index fell another 7% overnight and was the leading story into why most markets were starting off the day down hard.

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

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