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Morning Outlook

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Overnight Highlights

  • Overnight grain markets: Corn + ¼ ,  Soybeans + ½, Wheat +2 ¼, Crude +.10, Gold +9.10, Dollar -.099, Dow futures + 8.0
  • Argentina has agreed to allow imports of US pork for the first time in 25 years in a deal said to be worth $10 million per year.
  • The USDA reported weekly soybean sales 899,500 mt. vs trade estimates of 300,000 – 600,00 mmt. Crop year to date sales equal 14% of the total USDA estimates vs. five year average for this date of 35%.
  • Brazils northern ports accounted for 24% of all grain exports for far this year. This is up 8% just 5 years ago.

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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