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Closing Comments


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Overnight Highlights

  • Overnight grain markets: Corn +2,  Soybeans – ¾, Wheat +1 ¼, Crude -.30, gold +.50, Dollar -.04, Dow futures +66.
  • Corn bushels/acre production estimates by private analysts: FC Stone 162.8, Informa 165.9, AgResource 165.9, Farm Futures 163.5
  • Soybean bushels/acre production estimates by private analysts: FC Stone 47.7, Informa 47.3, AgResource 47.0, Farm Futures 47.5
  • November soybeans closed below the 50, 100, 200 moving averages yesterday and filled the gap on the chart left on 7/3/17.
  • Brazil’s grain loading logistics are being interrupted by a trucker’s strike over the high cost of diesel fuel – it started in Mato Grosso but has now spread to Rio Grande do Sul and Parana.
  • Thursday funds sold 4,000 corn, 10,000 soybeans, 3,000 wheat, 3,000 meal and 6,000 oil.
  • The U.S. Labor Dept. will release its August Jobs Report this morning which will influence the value of the Dollar.
  • USDA Crop Production and Supply & Demand Report next 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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