Home Market Market Watch Midday Update

Midday Update


Midday Update

* At midday, corn is -1, soybeans are +1, Chicago wheat is -3, KC wheat is -3, Minneapolis wheat -2, Apr feeders -1.250, Apr fat cattle -.600, Apr hogs unch.
* Corn end users in China are going hand to mouth on purchases looking for lower prices, as they are expecting the government to offer substantial discounts on sales of old crop reserves.
* Informa updated their estimates for US corn and soybean acreage. They increased corn up to 89.5 million, an increase by .64 million from January. Soybeans are forecast at 84.0 million, down 1.2 million acres from January.
* Cattle on Feed report out today at 2:00pm ct. Estimates for on feed for March 1st are 101% vs. previous report of 100%, Placements during February are at 108% vs. previous report of 99%, and marketings for February at 105% vs. 98% previous.

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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