Home Market Market Watch Midday Update

Midday Update


Midday Update

* At midday, corn is -3, soybeans are -10, Chicago wheat is -4, KC wheat is -3, Minneapolis wheat is -1, Mar feeders -.450, Feb fat cattle -.050, Feb hogs +.300.
* USDA announced reported China cancelled 395,000 mt of Soybeans for the 15/16 MY.
* Weaker US dollar, overall strengthening energy markets unable to motivate any more short covering in corn or soybeans so far today. Cancellation of US bought soybeans to China did not appear to have a big impact in the beginning, but seems to be forcing the beans lower now.
* Crude Oil is still higher on the day, however most of the strength came while grains were on break between night and morning sessions, and have been overall week since grains opened.
* Cash sources were reporting bids in Texas at $132 with offers at $138. No trade reported but the bids would be a little higher than yesterday.

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