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Morning Outlook

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Overnight Highlights

  • Overnight markets have corn -2, soybeans -3 ½, wheat -2 ½, crude oil +.32, dollar -.22, gold +16.40 and the Dow -53.
  • Grain markets traded lower overnight following yesterday’s rally.
  • Mexico indicated they will begin talks to renegotiate NAFTA after May 1st, as they want 90 days prior to consult with the private sector.
  • Brazil Trade Ministry says that the country exported 912K MT of soybeans in January compared to 394K MT in the same month last year.
  • USDA reported December DDG production up year over year as well as corn used for ethanol.  December soybean crush was also up over last year.
  • Wednesday funds bought 16,000 corn, 7,000 soybeans, 8,000 wheat, 2,000 meal, 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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