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Morning Outlook

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Overnight Highlights

  • Overnight markets have corn -1, soybeans -3 ¾, wheat -2 ¾, crude oil +.26, dollar +.08, gold +1.10 and the Dow +33.
  • Grain markets traded lower overnight based on negative technicals and a favorable South American weather outlook.
  • The Dollar traded to a 2 ½ month low yesterday.
  • Soybeans are closing in on the 100-day moving average at 10.10 ½.
  • The EIA Energy Stocks report will be announced this morning, and Grain Crushings this afternoon.
  • Tuesday funds bought 3,000 corn, 3,000 wheat, 3,000 oil.  Sold 1,000 beans and 1,000 meal.  

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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