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Morning Outlook

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Overnight Highlights

  • Overnight grain markets have corn – 2 ¼, soybeans -8 ¼, and wheat – 3 ¼.     
  • Overnight markets have crude oil -.68, dollar -.03, gold -4.00 and the Dow +26.
  • USDA conditions report showed winter wheat 58% good to excellent which was in line with trade expectations.
  • Large volume trading day for January soybeans on Monday with over 161,000 contracts traded.
  • Friday funds bought 10,000 soybeans, 6,000 meal and sold 3,000 wheat.  Corn and oil even.
  • Commitment of Traders report showed managed money:  corn short 60,394, soybeans long 113,644, wheat short 114,222, soybean meal long 19,327, soybean oil long 95,533.

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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