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Morning Outlook

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Overnight Highlights

  • Overnight grain markets: Corn -1 ¼,  Soybeans – ¾, Wheat -2, Crude +.05, Gold -9.90, Dollar +.34, Dow futures +22.
  • Theme of the week: Favorable harvest weather and better than expected yields. Will later maturing corn and soybean yields show any of the effects of late summer and early autumn dryness?
  • The South American weather forecast is becoming more favorable, with more normal weather patterns settling in through mid-October in both Brazil and Argentina.
  • Tuesday funds sold 3,000 corn, 7,000 soybeans, 1,000 wheat, 2,000 meal, and 9,000 oil.  
  • EIA Energy Stocks Report at 9:30am CDT.
  • NASS Final U.S. Small Grains Report and September 1st Stocks this Friday.

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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