Home Market Market Watch Midday Update

Midday Update



Midday Update

·         January options expire today, with $10.40 strike price looking attractive for traders with skin in the game, followed by $10.20 strike.

·         Malaysian palm oil traded to a one-month high as the worst floods in decades threaten production, providing a boost for soyoil.

·         Reuters – Egypt’s Supplies Minister says that Russia assured him a deal to import 4.4 million bushels of wheat from that country in January will be met.

·         Up to 30 to 60% of Plains hard red winter wheat belt at risk of some winterkill New Year’s Eve, depending on final intensity and duration of cold.

·         Unwinding of corn/wheat spreads support corn at expense of wheat this morning.

·         Corn futures are up 5 cents on strong demand/slow farmer selling.

·         Soybeans are up 14 cents on technical/option expiration and Malaysian floods.

·         Wheat is up 2 cents in Chicago, 3 cents in KC & 4 cents in Minneapolis, following the other markets, with eyes on next week’s Arctic outbreak for the Plains.

·         Live cattle are modestly mixed; Support comes from strong cash market on Wednesday, with pressure coming from a collapsing feeder cattle market. Boxed beef movement is very slow on firmer prices.

·         Feeder cattle are $2.75 to $3.30 lower on anemic demand and bearish charts.

·         Lean hogs are $0.50 to $1.00 lower on weak cash and product prices following Tuesday’s bearish quarterly hogs and pigs report.


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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