Home Market Market Watch Morning Outlook

Morning Outlook

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Overnight Highlights

  • Overnight markets have corn +1, soybeans -2, wheat mixed, crude oil +.25, dollar -.03, gold +6.0 and the Dow +13.
  • Mixed trade overnight. Harvest pressure continues to cap strength while fund and Chinese buying provide support.
  • USDA reported corn harvest at 61% complete vs 62% average for the date, Soybeans 76% complete matching the average.
  • Word is China bought a couple US cargoes for Dec/Jan.
  • Soy river basis has weakened as has cash meal in the west.
  • Barge freight higher as big harvest turns to brisk shipments down the river.
  • Monday funds bought 13,000 soybeans and sold 7,000 wheat and 8,000 corn. 

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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