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Morning Outlook

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Overnight Highlights

  • Overnight grain markets: Corn +1 ½, Soybeans +2 ½, Wheat -1 ¼, Crude +.31, Gold -10.30, Dollar +.54 Dow futures +120.
  • Weekly wheat condition ratings: Kansas 13% G/E vs 11% last week, Oklahoma 9% vs 5%, Texas 12% vs 10%.
  • Corn Planting Progress: Texas 43% complete vs 33% average, Louisiana 63% vs 46% average, Mississippi 28% vs 17% average, Arkansas 18% vs 9% average.
  • It was confirmed that South Korea had to cull 900 hogs due to a case of foot and mouth disease, unlikely to be widespread.
  • Monday funds sold 6,000 corn, 2,000 soybeans, 4,000 wheat, 5,000 meal. Even oil.
  • USDA Grain Stocks and Prospective Plantings 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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