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Morning Outlook

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Overnight Highlights

  • Overnight grain markets: Corn -1,  Soybeans + ¾, Wheat –3 ¼, Crude -.43, Gold +7.70, Dollar -.10, Dow futures -6.
  • Brazil is reported to be ahead on soybean plantings – 84% complete compared to the five-year average of 79%.
  • Iraq is looking for 50K MT of hard wheat – Australia is in with the lowest offer, followed by the U.S. and Canada.
  • Taiwan is looking to buy 80K MT of U.S. milling wheat for Jan/Feb.
  • Friday funds sold 4,000 corn, 4,000 soybeans, 5,000 wheat, 3,000 meal and 4,000 oil.
  • Commitment of Traders Report delayed until this afternoon due to the Thanksgiving holiday.
  • USDA Export Inspections at 10am 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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