* At midday, corn is -1, soybeans are -3, Chicago wheat is -5, KC wheat is -4, Minneapolis wheat -4, Apr feeders +.450, Apr fat cattle +.600, Apr hogs +.750.
* An Allendale survey of US producers over 25 states showed an increase in their corn acres to 90.4 mln acres from last year’s 87.99 mln. Farmers were also seen lowering their US soybean acres to 82.57 mln acres, just a little under last year’s 82.7 mln.
* US Corn production was seen at 13.63 bln bushels and US bean production at 3.72 bln bushels according to the Allendale survey also.
* EIA Ethanol stocks were reduced by .45 mln at 22.85 mln bbl and production increased by +21,000 bbl to 999,000 bbl/day.
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.
Past performance is not indicative of future results. The information contained in this report is intended for informational purposes only and is the opinion of the writer and may change at any time. This information was compiled from sources believed to be reliable but accuracy cannot be and is not guaranteed. There is no warranty, expressed or implied, in regards to this information for any particular purpose. There is SIGNIFICANT RISK involved in trading futures and or options on futures and may not be suitable for all investors. Investors should consider these RISKS and evaluate their suitability based on their financial conditions. No one should ever consider trading futures or options on futures with anything other than RISK CAPITAL. This information is provided freely and is NOT in the capacity of a trading advisor. NO LIABILITY on the part of the author exists for any trading loss you may incur in the use of this information. Information provided is not to be construed as an offer to sell or solicitation to buy any commodity or security named herein.
The information contained in this e-mail message is intended only for the personal and confidential use of the recipient(s) named above. This message may be an attorney-client communication and/or work product and as such is privileged and confidential. If the reader of this message is not the intended recipient or an agent responsible for delivering it to the intended recipient, you are hereby notified that you have received this document in error and that any review, dissemination, distribution, or copying of this message is strictly prohibited. If you have received this communication in error, please notify us immediately by e-mail, and delete the original message. Water Street Solutions is an equal opportunity provider. Water Street Solutions is an equal opportunity employer.