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USDA Report

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USDA Update

·         At midday, corn is +4, soybeans are -1, Chicago wheat is -3, KC wheat is -6, Minneapolis wheat +2, Oct feeders -3.275, Oct fat cattle -3.275, Dec hogs -2.625.

·         Corn is trading with support after the report showed less than anticipated stocks, but the number was still well inside trade expectations. The short fund position in corn offering the most support right now. Soybeans were a non-event in the report while wheat reminded the trade of the large stocks here domestically.

 

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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