Home Market Market Watch Midday Update

Midday Update


Midday Update

* At midday, corn is +4, soybeans are -4, Chicago wheat is +4, KC wheat is +4, Minneapolis wheat is +3, March feeders -4.500, Feb fat cattle -3.000, Feb hogs -.200.
* The USDA is reporting a case of bird flu in a Indiana turkey flock this morning. State officials have already quarantined the affected premises and started depopulating the affected birds.
* Analysts at Safras Mercado now estimate the 15/16 Brazil soybean crop at 99.8 mln mt, down from the 100.4 mln mt previously forecasted.
* Energy markets lower because of the possible lifting of sanctions on Iran and would lead to more Iranian crude exports.
* US NOPA crush was as expected at 157.71 million bushels and little higher than previous month. Oil stocks at 1.481 billion lbs vs. expected 1.53 bln lbs. Soymeal exports were at 839,874 tons vs. previous month of 848,441 tons. Neutral reports.

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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