Home Market Market Watch Midday Update

Midday Update



Midday Update

·         USDA’s daily export reporting system today included another sale of 4.6 million bushels of U.S. soybeans to “unknown destinations” for the 2014-2015 marketing year.

·         Broad-based selling is seen in the grain and oilseed complex as traders see sell signals triggered in overnight markets and follow through in the morning.

·         Talk that the stronger dollar may start weighing on demand for grains as other countries look for cheaper supplies.

·         Corn futures are 8 cents lower and grinding lower on technical sell signals.

·         Soymeal is down $6.40 per ton, while soybeans are down 17 cents on technical sell signals and South American weather looks good for growing conditions.

·         Wheat is down 8 cents in Chicago and Kansas City, while Minneapolis is down also 8 cents with warming temperatures for the weekend and concerns of bird flu in the EU.

·         Live cattle futures are 10 to 40 cents higher following a mix of lower grains but a little higher cash trade.

·         Feeder cattle futures are down 45 to 50 cents on weakness trying to put in a double top on the charts.

·         Lean hog futures are up $.10 to $.40, getting a bounce following yesterday’s selloff.


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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Aaron Hodge | Market Associate
WATER STREET ADVISORY® | www.waterstreet.org
(309) 680-1200 | ahodge@waterstreet.org

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