Home Market Market Watch Midday Update

Midday Update


Midday Update

* At midday, corn is +1, soybeans are +4, Chicago wheat is +5, KC wheat is +5, Minneapolis wheat +3, Mar feeders +1.000, Apr fat cattle +1.00, Apr hogs +.300.
* USDA Weekly grain inspections report showed corn 27.2 mln bushels, within expectations and below current target of 38.5 needed each week. Soybeans were 64.7 mln bushels, above expected range and well above the 12.7 mln bushels need each week. Wheat inspections were at 14.1 mln bushels, within the expected range and a little below the 18.7 mln bushels needed each week to meet the USDA.
* USDA reported private sale to Columbia consisted of 7.5 mln bushels of corn was announced this morning.
* US January NOPA crush were at 150.45 mln bushels, compared to 157.71 mln bushels last month and also below the expectations of 155.3 mln bushels.

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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