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Morning Outlook

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Overnight Highlights

  • Overnight markets have corn + ¾, soybeans -4 ½, wheat -1, crude oil +.47, dollar +.13, gold -10.40 and the Dow +24.
  • China reported that their January imports are up 35% over last year.
  • Argentine farmers are responding optimistically to the government lower taxes on their exports, as evidenced by the jump in machinery sales by 27%.
  • The USDA reported corn and soybean export sales were both reported significantly ahead of last season year to date – soybeans 51 MMT vs 41.1 MMT and corn 41.2 MMT vs 24.6 MMT.
  • Thursday funds bought 10,000 wheat. Sold 10,000 corn, 10,000 soybeans, 4,000 meal and 1,000 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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