Home Market Market Watch Morning Outlook

Morning Outlook

SHARE

 

cid:<a href=image009.jpg@01CE6CE4.660D8B30“>

Overnight Highlights

  • Overnight markets have corn +1, soybeans +3, wheat +1, crude oil -.49, dollar -.05, gold +1.0 and the Dow +23.
  • Supported grain trade this morning on Chinese soy demand and fund buying. Talk that China bought a couple cargoes yesterday.  
  • Chinese Dalian corn futures higher on rumors the government will subsidize corn processors to boost domestic consumption.
  • Weekly export sales will be out this morning.
  • EIA ethanol report saw production up 36,000 bbls/day from last week and stocks continuing to decline, losing 351,000. Stocks are at their lowest levels in nearly a year. Expect weekly production to see a seasonal increase for the next several weeks.
  • USDA Cattle on Feed will be out this afternoon. Analysts are expecting On Feed at 101.3%.

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.

cid:image010.jpg@01CE6CE4.660D8B30

cid:image011.jpg@01CE6CE4.660D8B30

cid:image012.png@01CE6CE4.660D8B30

www.waterstreet.org 
or 1-866-249-2528

 



Indiana Farm Expo