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Morning Outlook

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Overnight Highlights

  • In overnight markets: corn even, soybeans +4 ¼, wheat – ¼, crude -.13, gold -7.60, Dollar +.15, Dow futures +12.     
  • Mexico has gone a step further down the South American path, announcing that a trade deal to allow tariff-free Argentine corn and soybeans to move freely into the country could be in place within the year.
  • South Korea is tendering for 130K MT of optional origin corn.
  • Russia and Turkey have reportedly arrived at common ground regarding their trade dispute and Turkey banning Russian grain imports for the last several weeks.
  • USDA Cattle Report on Friday.
  • Tuesday funds sold 14,000 corn, 9,000 soybeans, 6,000 oil. Bought 2,000 meal and 2,000 wheat.     

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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