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Morning Outlook

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Overnight Highlights

  • Overnight markets have corn – ½, soybeans -3 ¾, wheat flat, crude oil +.28, dollar -.32, gold +7.40 and the Dow -2.
  • Grain markets lower this morning after a strong rebound yesterday led by soybeans.
  • Extended South American forecast is predicting rains in the dry areas of Northern Brazil, while reducing amount of rain expected for wet areas of Argentina.
  • Weekly export sales will be announced tomorrow, due to the holiday.
  • The USDA January Crop Report will be released next Thursday.
  • Wednesday funds bought 8,000 soybeans, 7,000 corn, 4,000 wheat, 4,000 meal and 3,000 oil.

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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