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Morning Outlook

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Overnight Highlights

  • Overnight grain markets: Corn +1/4,  Soybeans +1/2, Wheat +3 ½, Crude -.22, Gold +2.30, Dollar +.246, Dow futures +57.
  • On Tuesday, funds sold 7,000 corn, 3,000 soybeans, 3,000 oil and bought 3,000 wheat and even in meal.
  • Tunisia tendering for 100,000 mt of soft milling wheat.
  • Japan looking to buy 125,000 mt of wheat; 66,000 out of the US and 59,000 out of Canada.
  • Brazilian Real off slightly over the past several sessions and is trading around .31600.

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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