Home Market Market Watch Midday Update

Midday Update


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Midday Update

Starting next week, the Midday Update and Closing Comments will be combined into an early afternoon wrap-up. Mid-day updates will be released on USDA report days.

·         At midday, corn is +6, soybeans are +9, Chicago wheat is +7, KC wheat is +6, Minneapolis wheat +6, May feeders -3.200, Jun fat cattle -2.300, May hogs +.700.

·         USDA Weekly Export Sales showed an impressive 85 mln bushels of corn and almost double the expected range. Soybeans were 34.8 mln bushels and at the higher end of the range of expectations and most of it was for next year.  Wheat sales were at 29.6 mln bushels and above expectations.

·         CEO of Bunge said the company expects Brazil winter corn crop to be reduced by 5 to 10 mln mt due to dry weather and demand to shift towards the Black Sea and the US.


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