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MIDWEST MARKET SOLUTIONS
EARLY MARKET COMMENTARY
January 27, 2012
By: Brian Hoops, President
HEADLINES
• February grain options expire today.
• The semi-annual cattle inventory report will be released this afternoon.
OPENING CALLS
Corn: 2-4 higher
• South Korea is tendering for 250,000 mts of corn.
• Funds bought 3,000 contracts.
• March corn has resistance at $6.42 with support at $6.26
Soybeans: Steady-mixed
• Funds bought 5,000 contracts.
• March soybeans have chart resistance at $12.32 and support at $12.05.
Wheat: 1 lower -1 higher
• Jordan is tendering for 100,000 mts of optional hard wheat.
• Iraq is tendering for 50,000 mts of wheat, excluding bids from the U.S.
• Funds bought 2,000 contracts.
• March Chicago wheat has resistance at $6.67 and support at $6.43.
Live and Feeder Cattle: Steady-5 higher
• April live cattle have chart resistance at $130.05 and support at $127.57
Lean Hogs: 15-30 higher
Copyright 2012 Midwest Market Solutions, Inc.
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