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Midday Update



Midday Update

* At midday, corn is +5, soybeans are +6, Chicago wheat is -1, KC wheat is +1, Minneapolis wheat -2, May feeders +1.175, Jun fat cattle +.600, May hogs +.425.

* NOPA Crush was generally positive with March crush 156.69 mil bu vs. expectations of 156.3 mil bu, and soymeal exports almost 100k tons over expectations.

* USDA reported a private sale of 344k metric tons of corn this morning to unknown sources for the 2015/16 marketing year.

* Brazil’s President Rousseff will be addressing the public at 8 P.M. this evening with many expecting a resignation in advance of Sunday’s impeachment vote.

* The market continues to show signs that buying may not be over with May corn trading the highest price since Dec 22.

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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