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Morning Outlook

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Overnight Highlights

  • Overnight grain markets: Corn +1 ¼, Soybeans +9 ¼, Wheat -2 ½,  Crude -.32, Gold +18.50, Dollar -.39, Dow futures -248.
  • Senator Grassley from IA said that one of the positive possible solutions from the RFS meeting with the President yesterday would be to allow E-15 year around and would lower RIN prices.
  • Agrimer estimates French soft wheat conditions at 83% good/excellent compared to 85% last week.
  •  Korea’s KFA bought 68K MT of corn, U.S. or South American origin.
  • USDA January Crushing Report: 476.1 mbu of corn was used for ethanol, which is 0.5% higher than last year. DDG production was off 4% from last year at 1.986 MMT.
  • CME Group said Ag trading volume on the exchange was up 29% in February 2018 compared to February 2017.
  • Thursday funds bought 24,000 corn, 16,000 soybeans, 15,000 wheat, 3,000 meal, 3,000 oil.

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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