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Morning Outlook

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Overnight Highlights

  • Overnight grain markets: Corn -1 ½,  Soybeans – ½, Wheat + ¼, Crude +.18, Gold -6.40, Dollar +.13, Dow futures +57.
  • USDA reported corn crop conditions 61% good/excellent compared to 61% last week, in line with trade expectations. Corn harvest came in at 5% complete.
  • USDA reported soybean crop conditions 60% good/excellent compared to 61% last week, in line with trade expectations.
  • USDA reported spring wheat harvest 95% complete, well ahead of the 82% average.
  • Monday funds bought 2,000 corn, 2,000 oil. Sold 3,000 soybeans, 3,000 wheat, 2,000 meal.
  • USDA Crop Production and Supply & Demand Report at 11am CDT.

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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