Home Market Market Watch Morning Outlook

Morning Outlook

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Overnight Highlights

  • Overnight markets have corn +3/4, soybeans -1 ½, wheat +3, crude oil +.10, dollar -.17, gold +6.0 and the Dow -89.
  • Mixed trade in the markets overnight following yesterday’s USDA report. Corn and wheat finding support from the large fund short position.
  • Weekly export sales will be reported Friday due to Monday’s Columbus Day holiday.
  • French ag office slightly lowered their 16/17 soft wheat production from last month’s estimate.
  • Soybean basis continues to soften in many areas as harvest progresses.
  • Wednesday funds sold 16,000 corn, 8,000 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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