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Morning Outlook

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Overnight Highlights

  • Overnight grain markets: Corn – ½, Soybeans +1 ¼, Wheat -4 ¾, Crude +.06, Gold +12.30, Dollar -.11, Dow futures -120.
  • Argentine grain shipping has returned to normal after a ship ran aground.  60 ships are reportedly facing delays.
  • Crop Progress report will be released today and expectations are around 40% complete.
  • Commitment of Traders report showed managed money long 186k contacts of Corn, 177k long contracts of soybeans, and short 29k contracts of wheat. 
  • Little news and little progress made in trade talks with China through the weekend, but will be a driver this week dependent on announcements.

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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