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Morning Outlook

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Overnight Highlights

  • Overnight grain markets: Corn + ¼,  Soybeans +5, Wheat – ¼, Crude +.73, Gold +2.60, Dollar -.09, Dow futures +46.
  • Australian weather bureau issued a La Nina alert, forecasting a 70% probability of the event occurring. The Japanese have issued an alert as well.
  • John Deere reported their 4th quarter sales up 25.5% over last year, with equipment sales in South America leading the way.
  • U.S. Trade Representative, Lighthizer, is expressing concern over the lack of progress of NAFTA negotiations to this point, as Canada and Mexico do not seem to have an appetite to rebalance the treaty.
  • Tuesday funds sold 3,000 corn, 2,000 soybeans, 3,000 meal. Bought 4,000 wheat and 3,000 oil.  
  • EIA Energy Stocks report at 9:30am CST.
  • USDA Cold Storage report at 11am CST.

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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