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Morning Outlook

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Overnight Highlights

  • Overnight markets have corn -1, soybeans +1, wheat -1, crude oil -.37, dollar -.06, gold -2.0 and the Dow +18.
  • Mixed grain trade overnight. Soybeans have been the leader this week on Chinese demand.
  • Argentine corn planting progress is estimated at 36% complete vs 39% average for the date. Bueno Aires Grain Exchange.
  • Yesterday’s weekly corn export sales came in below the low estimate. While this year’s pace is almost double last year, sales now equal 41% of the USDA estimate vs the five year average of 42% at this date.
  • Saskatchewan’s weekly crop progress report shows harvest progress only 82% complete vs average of 99%.
  • First notice day for Nov Soybeans is Monday.
  • Yesterday funds bought 14,000 corn, 9,000 soybeans and 1,000 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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