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Morning Outlook

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Overnight Highlights

  • Overnight grain markets: Corn – ½, Soybeans +2 ½, Wheat -1 ¾, Crude +.46, Gold -.60, Dollar +.06, Dow futures +106.
  • President Macri from Argentina is promising financial aid to farmers struggling from the worst drought in decades by offering credit lines with extended grace periods and delaying maturities on current farm loans.
  • France’s Agrimer reduced non-EU wheat exports again this month, which is the fifth consecutive month of declines.
  • Tuesday funds bought 11,000 corn, 9,000 soybeans, 5,000 meal, 5,000 oil. Sold 4,000 wheat.
  • March grain futures go off the board today at noon.
  • EIA Ethanol report at 9:30am CST.  
  • NOPA Crush report out tomorrow with expectations for a 4.7% increase from last year.

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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