Peaceful Midterm Week

It seems that in the mid term week for 501, less attention is put in trading, but still there are something happened need us to take a look:

Wheat:

Wheat analysts are the most bearish since July on speculation the grain’s biggest premium to corn in three years will curb demand after farmers reaped a record crop.

The grain tumbled as much as 33 percent from a four-year high in July 2012 as drought eased in the U.S. The grain rallied 10 percent since reaching a 14-month low in August on speculation that crop damage in Russia and Argentina would boost demand for U.S. supply.

“Demand news may not live up to the expectations built into the recent rally”

The USDA raised its estimate for global wheat output to 708.9 million tons on Sept. 12. That compares with its August projection of 705.4 million tons and 655.2 million tons last year. Major exporting nations outside the U.S. will harvest 211.9 million tons compared with 208.37 million tons forecast in August and 10 percent more than 192.33 million tons last year.

Canadian farmers may harvest a record 33 million tons, 22 percent more than a year earlier, Statistics Canada said Oct. 4. Prices will drop to $6.50 in three months, 7.4 percent less than now.

Brazil and China buying to restock inventories spurred a 3.7 percent gain in prices last month, the most since April. U.S. sales since June 1 jumped 38 percent from last year as of Sept. 19 and export licenses issued by the European Union climbed 71 percent, government data show. U.S. wheat reserves as of June 1 may fall to 544 million bushels.

Cattle:

Cattle futures rose, extending a rally that began in May, on mounting speculation that improved demand for U.S. beef is tightening animal supplies.  Strong demand is pushing all protein up.

U.S. Department of Agriculture price and slaughter data have been halted by the government shutdown since Oct. 1.

In the end, this is my open positions, good to see green colours..