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Morning Outlook


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Overnight Highlights

  • Overnight markets have corn – ½, soybeans -6, wheat -2 ½, crude oil -.27, dollar -.04, gold -3.40 and the Dow +24.
  • Focus will soon shift to the USDA Outlook Forum on Feb. 23rd, where the topic of discussion will center around corn vs. soybean acres to be planted this season.
  • AgRural of Brazil is projecting their soybean harvest at 19% complete vs. 10% last week.  They were sitting at 16% at this time last year, and the average harvest of this date is 12%.
  • Mato Grosso, Brazil, is considerably ahead of schedule on their soybean harvest which is estimated at 46% complete, vs. the average of 25%. 
  • Chinese orders of Brazilian soybeans were very strong last week, estimated at 20-25 cargos.
  • Friday funds bought 12,000 corn, 7,000 soybeans, 8,000 wheat, 3,000 meal, 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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