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Midday Update



Midday Update

·         USDA reported a sale of 4.4 million bushels of soybeans sold to China for the 14/15 MY

·         Total ethanol production for the week ending November 21st was 6.874 million barrels, which is an increase of 84 thousand barrels from last week, while stocks declined by 263 thousand barrels.

·         Average ethanol profit margins for Iowa rose above 2.40 per bushel vs. 1.60 per bushel last week.

·         Corn futures are up 3 cents, Corn looks to be following the strength in the wheat markets again and also profitable ethanol margins look to keep demand on the strong side for now.

·         Soybeans are down 7 cents, with soymeal up $7.60 in December, but down 3.70 in later contracts. First notice day for December meal is Friday.

·         Wheat futures are up 3 in Chicago, up 4 in Kansas City and up 4 cents in Minneapolis.  Wheat did trigger a buy signal overnight, so some technical support along with weather giving it strength today.

·         Live cattle futures are down .20 cents to up.10.  Packers had opened bids of 1.69 cash and actually traded higher with packers bidding up to 1.73 in Kansas.

·         Feeder cattle futures are up .60 to 1.00 cents.  Back and fill after leaving a gap in the charts yesterday.

·         Lean hog futures are $.20 lower to $.30 higher. 


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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