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Midday Update



Midday Update

·         USDA reported that export sales in the week ending November 13 totaled 35.8 million bushels of corn (strong), 17.7 million bushels of soybeans (soft) and 13.3 million bushels of wheat (average).

·         USDA’s daily export reporting service today indicated that a sale of 4 million bushels of U.S. corn and 5.1 million bushels were sold to “unknown destinations” this morning.

·         The two weather outlook for Brazil and Paraguay looks very promising if weather models hold up.

·         Some broad base buying in the grain markets supporting “turn-around Thursday”.  Mainly strong exports in corn and soymeal.

·         Corn futures are up 7 cents, reversing yesterdays’ action to this point.

·         Soybeans are up 12 cents, with soymeal up $4.00.  Strong meal exports support the bean complex this morning.

·         Wheat futures are up 7 in Chicago, up 10 in Kansas City and up 10 cents in Minneapolis.

·         Live cattle futures are down 25 cents in the nearby and up 20 to 60 in the deferred contracts after April this morning.  Wholesale beef prices stronger.  Back month futures prices looking a little stronger.

·         Feeder cattle futures are 1.30 to 1.90 cents lower.   Stronger corn prices weighing on feeders.

·         Lean hog futures are $1.25 to $1.60 lower on product weakness.


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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