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Morning Outlook

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Overnight Highlights

  • Overnight grain markets: Corn – ¼, Soybeans -4 ¾, Wheat -1 ¼, Crude -.31, Gold -3.50, Dollar -.03, Dow futures -261.
  • U.S. Dollar trading down while the Brazilian Real is up.
  • CME sources indicated Force Majeure is no longer in effect for IL River shipping locations.
  • Egypt’s GASC purchased 175K MT of Russian wheat. South Korea’s NOFI bought 202K MT of optional origin corn while MFG did 205K MT.
  • Central IL cash soybean crush of off last week’s high by $.38 at $.83/bushel processed.
  • Tuesday funds bought 12,000 corn, 3,000 oil. Sold 4,000 soybeans, 3,000 meal, 4,000 wheat.  
  • EIA Ethanol Report later this morning.
  • 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.

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