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Morning Outlook

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Overnight Highlights

  • Overnight grain markets: Corn –1, Soybeans -12, Wheat -4 ½, Crude +.50, Gold -3.10, Dollar +.08, Dow futures +16.
  • French Agrimer estimates soft wheat at 81% good/excellent compared to 83% last week and 85% two weeks previous.
  • Representatives from both Big Corn and Big Oil will meet again on Monday with lawmakers to further discuss the RFS.
  • In China hog prices are at their lowest in four years due to rapid expansion outpacing slower demand growth, with hog values below the cost of production.
  • Thursday funds bought 28,000 corn, 2,000 wheat. Sold 5,000 soybeans, 2,000 meal, 2,000 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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