Midday Update

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Midday Update

********* Exporters sold 5.3 million bushels of current-year corn to Japan =
and another 4.0 million bushels to Mexico in the past 24 hours.

********* Many traders would like to square their positions to show profits=
on their year-end statements ahead of taking an extended holiday break.

********* Wheat traders are again focusing on the fact that U.S. wheat is p=
riced too high to garner business after Russia moved to restrict exports.

********* Informa released its updated 2015 acreage estimates to its client=
s this morning. They reportedly peg corn at 88.01 million, down 2.875 milli=
on from this year, while soybeans were pegged at 88.78 million, up 4.596 mi=
llion from 2014.

********* Drier areas of South America are expected to get good rains in th=
e days ahead.

********* Corn futures are down 3 cents, weighed down by soybeans and wheat=
, even as some ethanol processors firm basis bids.

********* Soybean futures are down 8 in softening fundamentals.

********* Wheat futures are down 20 cents in Chicago, while down 15 cents i=
n Kansas City and down 12 cents in Minneapolis.

********* Live cattle continue to bounce on ideas that the market was overs=
old; currently $1.20 to $1.65 higher.

********* Feeder cattle futures are $2.70 to $3.65 higher on a continued bo=
unce following the recent collapse.

********* Lean hog futures are turning lower; currently down 10 to 60 cents=
. Product prices are weaker again this morning, along with cash hogs tradin=
g at $0.50 to $2 lower.

All opinions expressed in this commentary are solely those of Water Street =
Advisory. This data and these comments are provided for information purpose=
s only and are not intended to be used for specific trading strategies. Alt=
hough all information is believed to be reliable, we cannot guarantee its a=
ccuracy or completeness. There is significant risk of loss involved in comm=
odity futures and options trading and may not be suitable for all investors=
.

www.waterstreet.org
or 1-866-249-2528

Arlan Suderman | Senior Market Analyst
WATER STREET ADVISORY(r) | www.waterstreet.org
(316) 729-4599 | asuderman@waterstreet.org

Past performance is not indicative of future results. The information conta=
ined 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 comp=
iled 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 a=
ll investors. Investors should consider these RISKS and evaluate their suit=
ability based on their financial conditions. No one should ever consider tr=
ading 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 los=
s 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 o=
r security named herein.

The information contained in this e-mail message is intended only for the p=
ersonal and confidential use of the recipient(s) named above. This message =
may be an attorney-client communication and/or work product and as such is =
privileged and confidential. If the reader of this message is not the inten=
ded recipient or an agent responsible for delivering it to the intended rec=
ipient, you are hereby notified that you have received this document in err=
or and that any review, dissemination, distribution, or copying of this mes=
sage is strictly prohibited. If you have received this communication in err=
or, please notify us immediately by e-mail, and delete the original message=
. Water Street Solutions is an equal opportunity provider. Water Street Sol=
utions is an equal opportunity employer.

–_000_9f5d21e692ce4027b8f02aed140016c0Peo1Exch2abslocal_
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3D"cid:image009.jpg@01CE6CE4.660D8B30"


Midday Update


·      &nbs=
p; 
Exporters sold 5.3 million b=
ushels of current-year corn to Japan and another 4.0 million bushels to Mex=
ico in the past 24 hours.


·      &nbs=
p; 
Many traders would like to s=
quare their positions to show profits on their year-end statements ahead of=
taking an extended holiday break.


·      &nbs=
p; 
Wheat traders are again focu=
sing on the fact that U.S. wheat is priced too high to garner business afte=
r Russia moved to restrict exports.


·      &nbs=
p; 
Informa released its updated=
2015 acreage estimates to its clients this morning. They reportedly peg co=
rn at 88.01 million, down 2.875 million from
this year, while soybeans were pegged at 88.78 million, up 4.596 million f=
rom 2014.


·      &nbs=
p; 
Drier areas of South America=
are expected to get good rains in the days ahead.


·      &nbs=
p; 
Corn futures are down 3 cent=
s, weighed down by soybeans and wheat, even as some ethanol processors firm=
basis bids.


·      &nbs=
p; 
Soybean futures are down 8 i=
n softening fundamentals.


·      &nbs=
p; 
Wheat futures are down 20 ce=
nts in Chicago, while down 15 cents in Kansas City and down 12 cents in Min=
neapolis.


·      &nbs=
p; 
Live cattle continue to boun=
ce on ideas that the market was oversold; currently $1.20 to $1.65 higher.


·      &nbs=
p; 
Feeder cattle futures are $2=
.70 to $3.65 higher on a continued bounce following the recent collapse.


·      &nbs=
p; 
Lean hog futures are turning=
lower; currently down 10 to 60 cents. Product prices are weaker again this=
morning, along with cash hogs trading at $0.50
to $2 lower.

 

All op=
inions expressed in this commentary are solely those of Water Street Adviso=
ry. 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 re=
liable, we cannot guarantee its accuracy or completeness. There is signific=
ant risk of loss involved in commodity futures and options trading and may =
not be suitable for all investors.

3D"cid==

3D"cid:imag=<= /p>

3D"cid:image012.png@01C=

www.waterstreet.org 

or 1-866-249-2528

 

 

3D"https://www.hoosieragtoday.com/wp-content/uploads/2017/05/purdue-news.png"

Arlan=
Suderman | Senior Market Analyst
WATER STREET ADVISORY® | www.waterstreet.org
(316) 729-4599 | asuderman@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 opini=
on of the writer and may change at any
time. This information was compiled from sources believed to be reliable b=
ut accuracy cannot be and is not guaranteed. There is no warranty, expresse=
d or implied, in regards to this information for any particular purpose. Th=
ere is SIGNIFICANT RISK involved
in trading futures and or options on futures and may not be suitable for a=
ll investors. Investors should consider these RISKS and evaluate their suit=
ability based on their financial conditions. No one should ever consider tr=
ading 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 comm=
odity or security named herein.
<= /p>

The i=
nformation contained in this e-mail message is intended only for the person=
al and confidential use of the recipient(s) named above. This message may b=
e an attorney-client communication and/or
work product and as such is privileged and confidential. If the reader of =
this message is not the intended recipient or an agent responsible for deli=
vering it to the intended recipient, you are hereby notified that you have =
received this document in error
and that any review, dissemination, distribution, or copying of this messa=
ge is strictly prohibited. If you have received this communication in error=
, please notify us immediately by e-mail, and delete the original message. =
Water Street Solutions is an equal
opportunity provider. Water Street Solutions is an equal opportunity emplo=
yer.

 


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