Home Market Market Watch Midday Update

Midday Update


Midday Update

* At midday, corn is +1, soybeans are +4, Chicago wheat is -9, KC wheat is -11, Minneapolis wheat -6, Apr feeders +1.600, Apr fat cattle +2.350, Apr hogs +.300.
* Informa analysts estimate the Argentina corn crop size at 27.5 mln mt up from 27.0. Argentine soybean estimate came in at 59.5 mln mt vs. previous guess of 59.0 mln mt. Brazil soybean crop at 100.5 mln mt, down from the 101.3 mln mt previous estimate. Brazil Corn crop at 83.7 mln mt, up from the 82.5 mln mt previous estimate.
* US Coast guard closes the Mississippi River to traffic after tow barge hits bridge and sinks the barge near Thebes, IL.
* EIA Ethanol Fuel Stocks were lowered by .8 mln and now sit at 22.2 mln bbl, while production was also cut by -16,000 bbl to 976,000 bbl/day.
* EIA Crude Oil stocks were cut by -4.94 mln bbls and stocks are at 529.89 mln bbls. Expected an increase of -3.25 mln bbls.

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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