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Morning Outlook

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Overnight Highlights

  • Overnight markets have corn -1, soybeans +2, wheat -1, crude oil -.65, dollar +.53, gold +1.0 and the Dow -24.
  • Mixed trade again overnight. Demand supporting markets on breaks but big supply capping strength. USDA report tomorrow expects smaller corn yield and bigger soy yield. US dollar up strong overnight on growing market confidence in an interest rate hike in Dec.
  • USDA will release crop progress and export inspections today. Trade expecting corn harvest to be near 40% complete and soy pushing 50%.
  • UkrAgroConsult says Ukraine wheat exports are likely to be off 8.3% from this past year due to poor weather.
  • Monday funds bought 8,000 corn, 2,000 soybeans and 5,000 wheat.

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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