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Midday Update

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Midday Update

* At midday, corn is -1, soybeans are even, Chicago wheat is -3 1/2, KC wheat is -3, Minneapolis wheat +1, Mar feeders +1.675, Apr fat cattle +.900, Apr hogs +1.275.
* Bean values at Gulf continue to be soft.
* Paris wheat futures close lower on ample supplies has pressured Chicago, but early losses have had significant recovery has sellers have found some exhaustion.
* Cattle and Feeder cattle higher on stronger cutout values and technical buy stops.
* US crude oil stocks rose to a second consecutive record high as refinery utilization fell, however gasoline inventories fell for the first time since November.
* US ethanol stocks fell slightly from last week.

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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