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Morning Outlook

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Overnight Highlights

  • Overnight grain markets: Corn – ½, Soybeans -2, Wheat -2, Crude +.16, Gold -7.50, Dollar -.21, Dow futures +91.
  • Cargill reported a 6% decline in quarterly profits, as of Nov 30th. The business segment that trades, processes and sells grains and oilseeds was the culprit due to large crops impacting volatility and margins.
  • Crude pushed to new highs, over $62.00.
  • The ratio of the Brazilian Real, Argentine Peso and Russian Ruble are all slightly stronger against the Dollar.
  • Wednesday funds bought 3,000 soybeans, 3,000 wheat, 2,000 meal, 3,000 oil. Sold 4,000 corn.
  • EIA Ethanol weekly report this morning.

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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