MIDWEST MARKET SOLUTIONS EARLY MARKET COMMENTARY March 2, 2015 By: Brian Hoops, President www.midwestmarketsolutions.com follow us on twitter at MidwestMarkets 417-501-5132 Midwest Market Solutions is the leading edge in commodity marketing and trading and is widely recognized as one of the top marketing advisory and brokerage firms in America.
HEADLINES • Winter wheat conditions will be released this afternoon. • Jobless claims will be released on Thursday morning • Unemployment report will be released on Friday morning at 7:30 am ct.
Corn: • Exporters announced sale of 140,000 mts corn to Saudi Arabia and 120,000 mts sorghum to China on Friday morning. • May corn has resistance at $3.99 with support at $3.86
Soybeans: • May soybeans have chart resistance at $10.46 and support at $10.24
Wheat: • Russian wheat exports are 57% lower year on year due to the export tax that went into effect at the beginning of the month. • May Chicago wheat has chart resistance at $5.19 and support at $4.97
Live and Feeder Cattle: • April live cattle have chart resistance at $153.12 and support at $147.37 • March feeder cattle have chart resistance at $203.77 and support at $197.65
Lean Hogs: • April lean hog have chart resistance at $69.10 and support at $66.40
Highlights of this week's Market Insider Weekly Newsletter include: * The March outlook for grains and livestock. * A look at the value of a seat at the MGEX. * Last week's cash cattle trade. * COT report analysis. * Trade and hedge recommendations. * Farmers switching to equipment leases. * Story on the battles between renters and landlords. * Plus much more.
Futures
@C - CORN - CBOT
Month
Change
Last
Open
High
Low
Close
Time
More
Mar 15
2'2
381'0
379'0
381'4
379'0
378'6
02:40A
May 15
3'0
391'0
388'4
391'2
388'2
388'0
02:40A
@S - SOYBEANS - CBOT
Month
Change
Last
Open
High
Low
Close
Time
More
Mar 15
3'6
1015'0
1011'6
1015'0
1011'4
1011'2
02:40A
May 15
3'0
1016'6
1014'0
1017'0
1011'6
1013'6
02:39A
@SM - SOYBEAN MEAL - CBOT
Month
Change
Last
Open
High
Low
Close
Time
More
Mar 15
10
3453
3443
3453
3435
3443
02:36A
May 15
14
3349
3333
3349
3323
3335
02:39A
@W - WHEAT - CBOT
Month
Change
Last
Open
High
Low
Close
Time
More
Mar 15
507'2
508'0
May 15
1'0
501'0
501'6
501'6
499'2
500'0
02:40A
@KW - HARD RED WINTER WHEAT - KCBT
Month
Change
Last
Open
High
Low
Close
Time
More
Mar 15
521'0
521'0
@MW - HARD RED SPRING WHEAT - MGE
Month
Change
Last
Open
High
Low
Close
Time
More
Mar 15
555'0
546'2
@LE - LIVE CATTLE - CME
Month
Change
Last
Open
High
Low
Close
Time
More
Apr 15
1.750
153.500
152.175
153.900
152.100
153.450s
03/02
@HE - LEAN HOGS - CME
Month
Change
Last
Open
High
Low
Close
Time
More
Apr 15
0.200
67.275
68.400
68.850
67.275
67.675s
03/02
@ES - E-MINI S&P 500 - CME
Month
Change
Last
Open
High
Low
Close
Time
More
Mar 15
- 2.00
2112.00
2114.00
2114.50
2111.00
2114.00
02:39A
@GF - FEEDER CATTLE - CME
Month
Change
Last
Open
High
Low
Close
Time
More
Mar 15
2.200
203.975
202.550
204.400
202.550
204.100s
03/02
Apr 15
1.800
202.075
200.925
202.700
200.850
202.125s
03/02
May 15
1.650
200.500
199.650
201.200
199.450
200.525s
03/02
My Custom Markets
Symbol
Change
Last
Open
High
Low
Close
Time
More
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