Home Market Market Watch Midday Update

Midday Update

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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

Past performance is not indicative of future results. The information contained in this report is intended for informational purposes only and is the opinion of the writer and may change at any time. This information was compiled from sources believed to be reliable but accuracy cannot be and is not guaranteed. There is no warranty, expressed or implied, in regards to this information for any particular purpose. There is SIGNIFICANT RISK involved in trading futures and or options on futures and may not be suitable for all investors. Investors should consider these RISKS and evaluate their suitability based on their financial conditions. No one should ever consider trading futures or options on futures with anything other than RISK CAPITAL. This information is provided freely and is NOT in the capacity of a trading advisor. NO LIABILITY on the part of the author exists for any trading loss you may incur in the use of this information. Information provided is not to be construed as an offer to sell or solicitation to buy any commodity or security named herein.

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