Home Market Market Watch Morning Outlook

Morning Outlook

SHARE

 

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

Overnight Highlights

  • Overnight markets have corn +1, soybeans +4 ½, wheat + ¾, crude oil -.61, dollar +.20, gold -.40 and the Dow -33.
  • Grain markets up this morning.  Soybeans stronger on the favorable NOPA crush number and underlying Chinese demand, and held the 50-day moving average.
  • Tuesday funds bought 9,000 corn, 2,000 soybeans, 4,000 wheat, 2,000 oil and sold 1,000 meal.
  • U.S. corn continues to be the most competitively priced on the global market.  Taiwan bought 65,000 mt for Feb/March.
  • Barge Freight:  STL 190-200, IL River 250-260, Ohio 225-250.
  • 6-10 Day Forecast:  East – normal to below temps.  West – above normal temps and normal to below precipitation.

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