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Morning Outlook

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Overnight Highlights

  • Overnight grain markets: Corn +1 ¾,  Soybeans +2 ¼, Wheat +4, Crude -.09, Gold -.60, Dollar -.13, Dow futures -4.
  • South Korea purchased 138K MT of corn in a private transaction yesterday.
  • October Brazilian exports: corn 5.03 MMT compared to 5.91 MMT in September and 1.10 MMT last year; soybeans 2.49 MMT compared to 4.23 MMT in September and 1.00 MMT last year.
  • USDA reported corn used for ethanol in September was 447.6 mbu compared to 435.2 mbu last year. September DDG’s produced were 1.847 MMT compared to 1.964 last year.
  • Wednesday funds bought 5,000 corn, 6,000 soybeans, 3,000 oil, 2,000 meal. Wheat even.
  • USDA Weekly Export Sales at 7:30am CDT.
  • Informa will release 2017/18 U.S. crop production estimates today.

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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