CORN

• Dec down 2 cents @ 4.17 1/4
• Managed money net position: 218.8K long
• Corn appears over bought with funds buying 48K contracts in 1 week
• USDA weekly export inspections 636,290 down from last wk
• Funds net buyers of 9K contracts – O/I: -14,500 contracts
• Dec support @ 4.09 & resistance @ 4.20

SOYBEANS

• Nov down 1 ¾ cent @ 10.82
• Managed money net positions: 231.8K contracts long
• Surge in Palm Oil may boost prices
• Daily export sales of 135K mt to Philippines & 120.7K to unknown
• USDA weekly export inspections 2.664M – up from last wk
• First notice day for Nov futures 10/30
• Funds net buyers of 8K contracts – O/I: -40,000 contracts
• Jan support @ 10.63 & resistance @ 10.88

WHEAT

• Dec Chi down 11 ¾ @ 6.21, Dec KC down 17 ½ @ 5.52 ¼, Dec MNPLS down 10 @ 5.67 ½
• Managed money net position: 49.7K contract long & KC – 38.1K contracts long
• Active imports with some new crop concerns
• USDA weekly export inspections 363,806 – up from last wk
• Funds net sellers of 6K contracts SRW – O/I: +845 contracts SRW & +1,400 contracts HRW
• CHI resistance @ 6.17 & support @ 6.38, KC resistance @ 5.53 & support @ 5.80 & MNPLS resistance @ 5.70 & support @ 5.88

CATTLE

• Oct LC up .55 @ 133.85 & Oct FC down .02 @ 133.50
• Cattle on Feed report, bearish up placements up 6% versus 3.5% expectation
• Coronavirus concerns keep pressure – cold weather may become a concern later this wk
• Feeder cattle options/futures expire 10/29, Live cattle futures expire 10/30
• Cash prices around 106 last wk for LC  & @ 134.01 as of 10/22 for FC
• O/I: +983contracts for LC & O/I: +458 contracts for FC

HOGS

• Dec down .42 @ 66.62
• Pork cutouts fell to 93.25
• Oversold & bid Dec discount, recovery bounce potential
• Cash lean index for 10/21 was 78.60
• O/I: -377 contracts

Author

Amberlee Bratcher