Home Market Market Watch Midday Update

Midday Update


Midday Update

* At midday, corn is -2, soybeans are -8, Chicago wheat is +3, KC wheat is +2, Minneapolis wheat is +2, Mar feeders +1.500, Feb fat cattle +1.500, Feb hogs +.270.
* Informa outlook for Brazil soybeans was at 100.5 mln mt vs. previous 101.4. Their outlook for the Argentine soybean crop was at 60.0 mln mt vs. previous 58.5 mln.
* Informa oulook for Brazil corn production was at 81.6 mln mt vs. previous month’s 81.3 mln mt. The Argentine corn crop was at 26.0 mln mt vs. previous 22.0 mln.
* With the winter storm this week, asking prices for cattle have moved over 140 with no trade reported yet.
* Crude Oil up +1.90, US Dollar is down -1.300 not seeming to help the grains today but will encourage more demand if it can be the beginning of long term trend.

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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