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Morning Outlook


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Overnight Highlights

  • Overnight markets have corn + ½, soybeans -3, wheat flat, crude oil +1.35, dollar +1.17, gold -4.50 and the Dow +153.
  • Grain markets mixed this morning.   The two main topics for early 2017 will include weather and the upcoming USDA January crop report.
  • The Brazil Trade Ministry showed Dec soybean exports at 653,098 mt. vs. 316,094 in Nov and short of the 731,439 last year.  Corn exports were higher at 1.005 mt in Dec vs. 961,433 in Nov.
  • Bird flu continues to expand with new outbreaks in France and China.
  • The Commitment of Traders report showed managed funds: corn short 113,648 off 16,552; Soybeans long 107,075 off 4,637; wheat short 108,927 off 5,332.
  • Friday Funds bought 5,000 corn, 2,000 wheat.  Sold 6,000 soybeans, 1,000 meal, and 2,000 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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