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Morning Outlook

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Overnight Highlights

  • Overnight markets have corn -1, soybeans -3, wheat -3, crude oil -.20, dollar +1.35, gold -33.0 and the Dow -12.
  • Markets weaker overnight. Dollar higher again and rains forecast for Argentina. So far soybeans have been able to hold the 10.20 level.
  • South Korea has raised its Bird Flu alert to the highest level of alert as it works to contain the disease. The country has culled 12% of the poultry population.
  • As the end of year rebalancing approaches for index funds, agriculture will see the largest sector increase while Brent Oil will be facing a large drop in allocation.
  • Yesterday funds bought 3,000 corn, 1,000 wheat and sold 6,000 soybeans.

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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