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Morning Outlook

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Overnight Highlights

  • Overnight markets have corn +1, soybeans +4 ½, wheat +1-3, crude oil +.61, dollar -.20, gold +.60 and the Dow -10.
  • USDA Weekly export sales for corn were robust again.  The expected range was between 900k-1.2mln mt and the actual was 1.661 mln mt.
  • USDA Weekly export sales for soybeans were also very solid again but within the expected range of 1.2-1.7 mln mt.  Actual was 1.418 mln mt.  Soymeal was also strong at 437k mt, 100k-350k mt were expected.
  • USDA Weekly export sales for wheat came in within the expected range of 350k-650k mt at 598,400 mt.
  • Parana Brazil’s ag institute, DERAL, today said as of November 15th 89% of the soybean crop has been planted up from last week’s 80%.
  • 6-10 Day Forecast:  Mostly above normal temperatures and normal to above precipitation.  Areas of Minnesota and Dakotas to possibly see Blizzard type conditions tomorrow and into the weekend.

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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