Home Market Market Watch Midday Update

Midday Update


Midday Update

* At midday, corn is +3, soybeans are +6, Chicago wheat is +14, KC wheat is +9, Minneapolis wheat +7, May feeders -3.450, Jun fat cattle -2.700, May hogs -.450.
* USDA Weekly Export Inspections for Corn were at 42.8 million bushels and expect a little under that, soybeans were at 9.4 million bushels and in line with expectations. Wheat was 16.8 million bushels and higher than expected.
* Planting progress today is expected to be at 10-18%, we would not be surprised if it came in a little above even. 5 year average is at 11%.
* Grains have continued the recent rally to start the and for the first time in a long time it seems easier to go higher for now. Money flow seems to be putting in some weather premium. The markets are coming into some moving averages now and have been overbought for a while now, so break at some point should be expected.

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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