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USDA Report Summary

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USDA Update

·         At midday, corn is -2, soybeans are -16, Chicago wheat is +4, KC wheat is +3, Minneapolis wheat +2, Sept feeders +1.700, Oct fat cattle +1.750, Oct hogs +2.175.

·         Of note is the larger than expected increase in soybean anticipated yield, but smaller than expected carry-in supplies from last season. USDA reversed yield ‘direction’ on corn, but less so than the trade was hoping.

 

 

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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