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Morning Outlook


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Overnight Highlights

  • Overnight markets have corn -1 ¼, soybeans -2, wheat +1, crude oil +.02, dollar -.38, gold +1.80 and the Dow +28.
  • Grain markets mixed this morning with quiet news headlines.  The main focus will be on South American weather, specifically northern Brazil which is becoming hot and dry.  Support is being given by a weaker Dollar.
  • Argentina increased their estimate for 2016/17 wheat production.  Estimated corn planting 71.3% complete vs. 83% last year, soybean planting pegged at 84.1% complete.
  • EIA ethanol production weekly report was off -8,000 barrels/day from last week, and ethanol stocks were off 377K barrels from last week.
  • Today is First Notice Day for January soybeans.
  • Thursday Funds bought 4,000 corn, 2,000 wheat.  Sold 5,000 soybeans, 3,000 meal, and 4,000 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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