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Morning Outlook

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Overnight Highlights

  • Overnight markets have corn + ½, soybeans flat, wheat flat, crude oil +.19, dollar -.27, gold -4.80 and the Dow +26.
  • Grain markets mixed this morning.   The two main topics for early 2017 will include weather and the upcoming USDA January crop report.
  • Soybeans closed below the 100 and 200 day moving averages yesterday.
  • The USDA reported November soybean crush up 5 million bu. over last year, corn used for ethanol up 18 million bu. higher than last year, and DDG production up slightly over November of last year.
  • Tuesday funds bought 8,000 corn, 500 wheat and 1,000 oil.  Sold 5,000 soybeans and 2,000 meal.

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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