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Morning Outlook

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Overnight Highlights

  • Overnight markets have corn – ¾, soybeans -4 ½, wheat flat, crude oil -.30, dollar -.16, gold +.10 and the Dow -11.
  • Grain markets trading lower this morning with Soybeans taking the lead, pressured by favorable South American weather.
  • EIA weekly ethanol production was announced at 1.04 million bpd, 4,000 bpd less than last week, with ethanol stocks also slightly lower.
  • Bird flu is starting to get more global press as China is now reporting three human cases of the infection.
  • Wednesday Funds sold 3,000 corn 500 soybeans, 4,000 meal, 1,000 oil and 1,000 wheat, while buying 500 meal.
  • USDA will be releasing this month’s Cattle on Feed report Friday at 11:00 am.

Commodity Weather Group Forecast

 

 

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