Home Market Market Watch Morning Outlook

Morning Outlook

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Overnight Highlights

  • Overnight markets have corn +2, soybeans -2, wheat -1, crude oil +.27, dollar even, gold -4.0 and the Dow +4.
  • Mixed trade this morning in grains with corn finding support.
  • Informa 2017 acreage estimates of corn at 90.8 mln acres vs last month at 90.9 and last year at 94.5 mln. Soy acres estimated at 88.6 mln vs 88.4 last month and 83.7 mln last year.
  • Yesterday funds were buyers of 10,000 corn, 3,000 soybeans and 4,000 wheat.
  • USDA weekly corn export sales are at 27.6 mln mt vs 14.5 mln mt to date last year. Soybean sales are at 38.4 mln mt vs 30.8 mln to date last year. 
  • Cattle on Feed report will be out this afternoon.

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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