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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 -1, soybeans are -1, Chicago wheat is +2, KC wheat is +1, Minneapolis wheat +2, May feeders +.200, Jun fat cattle +.600, May hogs .300.

·         USDA announced a sale of 100,640 mt of Corn to Japan for the current marketing year.

·         China regulators are preventing commodities as being the next playground of speculators and curbing trading by those without experience, raising margins and trading fees.

·         AGR Brazil lowered their estimate of the second season Corn crop by -5.5 mln mt down 52.1 mln mt compared to their previous outlook of 57.6 mln mt due to hot dry weather. 


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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