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Morning Outlook


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Overnight Highlights

  • Overnight grain markets have corn + ¾, soybeans + 6 ¾, and wheat + 1 ¼.     
  • Other overnight markets: crude oil +.56, dollar -.29, gold -3.70 and the Dow +2.
  • The USDA released a report predicting farm income will decline 17.2% in 2016, a drop for the third year in a row to a level not seen since 2009.
  • The USDA will announce its October Crush Report at 2pm today – crush is estimated to be up and stocks down compared to September.
  • China bought U.S. soybeans yesterday, but have become more active in the last week with Brazil, taking 10-12 cargos for Feb/Mar.
  • Wednesday funds sold 7,000 corn, 10,000 soybeans, 5,000 wheat, 4,000 meal and 3,000 oil.

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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