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Morning Outlook

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Overnight Highlights

  • Overnight markets have corn -1 ½, soybeans -3, wheat -3, crude oil +.45, dollar +.29, gold +3.10 and the Dow +14.
  • Grain markets traded lower overnight as there were not any new revelations to swing the needle in a major direction.
  • A tender was issued by South Korea’s state fishery for 60K tonnes of non-GMO soybeans for 2018.
  • France is increasing its forecast of soft wheat to destinations outside the EU from 4.7 MT to 4.8 MT.
  • Cash traders reported a sale of 80K MT of Argentina origin soymeal by importers from Indonesia for Feb-Mar.
  • The USDA January Crop Report will be released tomorrow.
  • Tuesday funds sold 4,000 corn, 1,000 wheat.  Bought 4,000 soybeans, 3,000 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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