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Morning Outlook

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Overnight Highlights

  • Overnight markets have corn – ¼, soybeans -1 ½, wheat -1, crude oil -.36, dollar +.21, gold -5 and the Dow +6.
  • Grain markets traded lower overnight as weather is improving in South America – Will corn, beans and wheat all close lower this week?
  • Japan purchased 110K MT of feed wheat – 60K MT US, 50K MT Canadian.
  • The USDA Cattle on Feed report will be announced today at 2pm CST with estimates of on feed 99%, placements 108.4%, and marketings 106.7%.
  • Thursday funds sold 7,000 corn, 4,000 soybeans, 4,000 oil.  Bought 1,000 wheat, meal even.

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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