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Morning Outlook


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Overnight Highlights

  • Overnight markets have corn – ¾, soybeans -4 ½, wheat flat, crude oil -.30, dollar -.16, gold +.10 and the Dow -11.
  • Grain markets trading lower this morning with Soybeans taking the lead, pressured by favorable South American weather.
  • EIA weekly ethanol production was announced at 1.04 million bpd, 4,000 bpd less than last week, with ethanol stocks also slightly lower.
  • Bird flu is starting to get more global press as China is now reporting three human cases of the infection.
  • Wednesday Funds sold 3,000 corn 500 soybeans, 4,000 meal, 1,000 oil and 1,000 wheat, while buying 500 meal.
  • USDA will be releasing this month’s Cattle on Feed report Friday at 11:00 am.

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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