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Morning Outlook

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Overnight Highlights

  • Overnight markets have crude oil -.45, dollar -.21, gold -3.0 and the Dow +58.
  • CME trade will open at 8:30 CT for a shortened holiday trade day. 
  • Agroconsult estimates Brazil’s 16/17 soybean production at 102.6 mln mt. Up from last year’s 96.3 mln.
  • Wednesday funds bought 3,000 soybeans, 500 corn and sold 3,000 wheat. The big story was in soy oil with funds buying 16,000 contracts on the increased EPA biodiesel quotas.
  • December option expiration today.
  • CME trading ends at Noon today.

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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