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Morning Outlook

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Overnight Highlights

  • Overnight grain markets have corn flat, soybeans + 7 ¾, and wheat + 1.     
  • Other overnight markets: crude oil -.44, dollar +.14, gold -4.90  and the Dow +6.
  • Stats Canada monthly crop production report today.
  • Weekly export inspections announced yesterday were favorable for corn, soybeans and wheat.
  • Corn eclipsed four moving averages in one day yesterday: 10, 20, 50, and 100.
  • Monday funds bought 18,000 corn, 8,000 soybeans, 4,000 meal, 2,000 wheat and sold 2,000 oil.

Commodity Weather Group Forecast

 

 

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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