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Morning Outlook

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Overnight Highlights

* Grain and livestock markets closed for President’s Day holiday. crude +.40, dollar +.55, gold -29.0 and the Dow +210.
* World equity markets are higher to start the week on reduced concern over European bank liquidity.
* Paris’ Matif wheat futures higher today, extending gains at the end of last week.
* Malaysian palm oil futures lower after reaching a 22 month high.
* NOPA crush data to be released tomorrow.
* Brazilian harvest continues to progress with farmer selling coupled with the good yields and weak real.
* Friday’s CFTC commitment of traders report showed funds had returned as sellers across corn, soybeans, and wheat. New record short positions in non-commercial positions in KC wheat and soybean meal.

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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