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Morning Outlook

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Overnight Highlights

  • Overnight markets have corn – ¼, soybeans +3 ¾, wheat -1 ¾, crude oil +.29, dollar -.14, gold +4.60 and the Dow +7.
  • Grain markets mixed this morning with Soybeans finding some short covering after yesterday’s break.
  • January soybeans closed below the 50-day moving average for the first time since October 14th
  • Egypt bought 360K mt of Russian, Romanian, and Argentine wheat for end of January shipment.
  • Tuesday Funds sold 12,000 soybeans, 6,000 corn, 4,000 meal, 3,000 oil and 500 wheat.
  • USDA will be releasing this month’s Cattle on Feed report Friday at 11:00 am.

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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