Home Market Market Watch Midday Update

Midday Update

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Midday Update

·         Export sales for the week ending December 18 totaled 67.1 million bushels of old crop corn (strong), 23.4 million old- & 55.0 million new-crop soybeans (strong), and 10.8 million bushels of wheat (average)

·         USDA’s Weekly Grain inspections showed 24 million bushels of corn exported, 52.3 million bushels of soybeans for export, and 7.3 million bushels of wheat for export.

·         Indonesia and Malaysia are continuing to deal with heavy rains and flooding , the forecasts will remain wet for a few more days before they get a break.  The harvest, transportation, and crushing of new supplies could impact into early January.

·         Corn futures have turned lower on the day, down 3 cents.

·         Soybean futures are also lower down 2 cents and soymeal down $3.90, while oil is still higher up .60 providing a mixed feeling in the bean complex.

·         Wheat futures are down 2 cents on the Kansas City market, while Chicago is down 2 and Minneapolis is down 1 cent.

·         Live cattle futures are very strong, up $2.00 to $3.00 in 1 contract month, as feeder cattle seem to be leading the way

·         Feeder cattle are up $4.00 in most contract months.

·         Lean hogs are up $.30 to $.80.

 

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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