Home Market Market Watch Midday Update

Midday Update


Midday Update

* 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.




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