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Morning Outlook

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Overnight Highlights

  • Overnight markets have corn -1/2, soybeans +4, wheat -1, crude oil +.26, dollar +.07, gold -6.0 and the Dow +74.
  • Mixed trade this morning. Soybeans holding up on the markets continuing to watch Argentine weather. Jan soybeans have to prove they can close above 10.60 to move higher or below 10.20 to move lower.
  • Weekly USDA shipment report puts soybeans at 1.025 bln bu vs 858 mln bu last year on this date. Corn shipments are 574 mln bu vs 265 mln bu on this date last year. Wheat stands at 518 mln bu vs 402 on this date last year.
  • Yesterday funds sold 8,000 soybeans, bought 3,000 corn and 2,000 wheat.

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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