Home Market Market Watch Midday Update

Midday Update

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Midday Update

* At midday, corn is -1/2, soybeans are +9, Chicago wheat is -3, KC wheat is +6, Minneapolis wheat +7, May feeders +2.600, Jun fat cattle +1.500, Apr hogs -.300.
* Meal is leading the soybean market higher today, July is up +6.6. Have not seen any news on the wires for the spark, but is the clear leader in grains for today.
* USDA reported another private sale of corn in the amount of 4.7 mln bushels this morning for the current marketing year.
* US Food and Drug administration said safety concerns surrounding Carbadox have prompted it to withdraw its approval of the swine drug, further adding it may leave trace carcinogenic residue. The FDA said it is not recommending changing pork consumption amounts.

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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