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Midday Update

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Midday Update

* At midday, corn is +1, soybeans are +2, Chicago wheat is +11, KC wheat is +10, Minneapolis wheat +6, Apr feeders +.500, Apr fat cattle -.350, Apr hogs +.700.
* USDA export inspections for corn were seen 38.5 mln bushels vs. expected 33.5, soybeans at 20.9 mln bushels vs. expected 21.1 mln bushels, and wheat at 12.0 mln bushels vs. expectation of 14.7 mln bushels.
* The wheat market pushing grains higher on a few weather concerns as cold temperatures will return again, dryness concerns over Oklahoma and Kansas along with some large fires moving through have helped support prices this morning. Kansas state officials say the huge fire has burned 400k acres since the fire started last week and strong winds Monday and Tuesday will be present. Fire officials estimate that the wildfire is up to 80% contained, however.
* Bids have strengthened up at the gulf by +.02 for corn, down -.01 for soybeans.

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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Aaron Hodge | Market Associate
WATER STREET ADVISORY(r) | www.waterstreet.org
(309) 680-1200 | ahodge@waterstreet.org

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.

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