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Midday Update

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Midday Update

* At midday, corn is +2, soybeans are +1, Chicago wheat is even, KC wheat is +2, Minneapolis wheat +1, Mar feeders -.150, Apr fat cattle -.225, Apr hogs -1.350.
* USDA Export sales this week had corn at 41.3 mln bushels for current marketing year and within the expected range. Soybeans were at 20.8 mln bushels for current year and within the expected range. Wheat sales were at 9.3 mln bushels and towards the bottom of the expected range.
* USDA report a daily private sale of 101,600 mt (4 mln bushels) of corn to Costa Rica for the current marketing year.
* Argentine government had declared six grain growing provinces in flood emergency after rains had washed out some corn and soybean fields.
* 50-75 mph winds have been reported across Nebraska.

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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