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Morning Outlook

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Overnight Highlights

  • Overnight grain markets: Corn – ¼, Soybeans – 1, Wheat +2, Crude +.05, Gold -10.80, Dollar +.09, Dow futures +4.
  • Official of the U.S., Canada and Mexico meet in Montreal next week for the sixth in seven rounds of NAFTA re-negotiation talks.
  • The CBOT corn volatility index jumped up 1.1% yesterday to 11.6%, as it has been hovering near record lows.
  • Taiwan bought a cargo of U.S. corn in the tender overnight.
  • EU Strategie Grains lowered their estimate for the soft wheat crop by 0.5 MMT. Mild and damp weather has caused concerns regarding the crop’s ability to withstand a cold snap and potential parasite problems in the spring.
  • Wednesday funds bought 17,000 corn, 2,000 soybeans, 5,000 wheat, 4,000 meal. Sold 3,000 oil.
  • EIA Energy Stocks report 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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