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Morning Outlook

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Overnight Highlights

  • Overnight markets have corn -2, soybeans +8, wheat +1, crude oil -.55, dollar -.01, gold -8.0 and the Dow -28.
  • Thank you to all veterans and their families for service to our country.
  • Mixed markets overnight. Soybeans higher on continued Palm Oil strength. Large supplies hanging on corn price.
  • Buenos Aires Grain Exchange estimates Argentine farmers will plant 2.5% fewer soybean acres but that corn plantings will be up 27% from last year.
  • Weekly corn export sales are now at 46% of the USDA estimate – this matches the five year average for this date.
  • Yesterday funds bought 8,000 corn, 8,000 soybeans and sold 3,000 wheat. 
  • Reminder of the upcoming Water Street EDGE meeting November 28th-29th in Lincoln Nebraska. Signup information can be found here.

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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