Home Market Market Watch Morning Outlook

Morning Outlook

SHARE

cid:<a href=image009.jpg@01CE6CE4.660D8B30“>

Overnight Highlights

  • Overnight grain markets: Corn – ½, Soybeans -2 ¾, Wheat -6 ½,  Crude +.54, Gold +8.00, Dollar -.42, Dow futures +142.
  • Egypt’s GASC is in for more wheat – Russia’s prices have increased $3-4/MMT since the last order – will they be vulnerable to competition?
  • UK AgroConsult upped its projection for Ukraine’s 2018 wheat crop by 4.8%.
  • Australia’s 2018/19 wheat crop is expected to rebound from last season by 12% as La Nina has supplied much needed moisture.
  • Monday funds bought 7,000 corn, 6,000 soybeans, 5,000 wheat, 2,000 meal. Even oil.
  • USDA Supply/Demand and Crop Production Report this Thursday.

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.

www.waterstreet.org 
or 1-866-249-2528