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Midday Update



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 priced too high to garner business after Russia moved to restrict exports.

·         Informa released its updated 2015 acreage estimates to its clients this morning. They reportedly peg corn at 88.01 million, down 2.875 million from this year, while soybeans were pegged at 88.78 million, up 4.596 million from 2014.

·         Drier areas of South America are expected to get good rains in the 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 in Kansas City and down 12 cents in Minneapolis.

·         Live cattle continue to bounce on ideas that the market was oversold; currently $1.20 to $1.65 higher.

·         Feeder cattle futures are $2.70 to $3.65 higher on a continued bounce 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 trading 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 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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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 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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