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Midday Update



Midday Update

·         Fear is dominant on Wall Street today. The DOW is down 300 points, but was down 370 points earlier in the session.

·         The dollar traded a 1,500 point spread this morning and is now down 700 points, but is over 600 points off its low.

·         Fears are a combination of poor economic news and a second Dallas healthcare worker contracting Ebola.

·         Discussions on Wall Street already focused on a possible revival of quantitative easing this morning.

·         Money flow in and out of the broader commodity sector has flipped back and forth several times already today.

·         The National Oilseed Processors Association says its members crushed just 99.97 million bushels of soybeans in September amid tight supplies, below trade expectations of 107.

·         Corn is down 3 cents currently, but has traded both sides of unchanged.

·         Soybeans are mixed after trading a 23-1/2-cent spread.

·         Wheat is up 5 in Chicago after breaking above chart resistance, KC is up 7, MN is up 6.

·         Live cattle futures are now mixed, after being down sharply on break in equity markets. A small lot of cattle have traded in Nebraska at $258 per cwt on a dressed basis, providing support.

·         Feeder cattle are down $2.70 to $3.00 after being locked the $3 daily limit lower earlier in the session.

·         Lean hogs are largely locked the $3 daily limit lower after chart support gave way on Wall Street fears.


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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Arlan Suderman | Senior Market Analyst
WATER STREET ADVISORY® | www.waterstreet.org
(316) 729-4599 | asuderman@waterstreet.org

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