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Morning Outlook

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Overnight Highlights

  • Overnight grain markets: Corn -+1 ¼,  Soybeans +3 ¼, Wheat + ½, Crude -.15, Gold +7.80, Dollar -.57, Dow futures -73.
  • USDA WASDE report this coming Tuesday. Estimates include: corn 168.2 bpa with production of 14.035 bbu and soybeans 48.8 bpa with production of 4.328 bbu.
  • China customs officials reported soybean imports in August of 8.45 MMT, up 10.2% from the last estimate. Improved crush margins are helping boost imports.
  • The U.S. Dollar is trading under 91 points, which is over a 13% decline from the summer high.
  • Thursday funds sold 9,000 corn, 3,000 soybeans, 5,000 wheat, 2,000 meal. Sold 4,000 oil.
  • USDA weekly export sales due out this morning.
  • The Commitment of Traders report due out this afternoon.

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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