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Morning Outlook

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Overnight Highlights

  • Overnight markets have corn –1 ¼,  soybeans -2 ¾, wheat -2 ½, crude oil -.36, dollar +.20, gold +1.30 and the Dow +20.
  • US DDG exports declined 10% in 2016 due to China curtailing imports of feed grains.
  • Talk of Argentina courting Mexico for corn shipments, capitalizing on concerns regarding US trade policy.
  • AgResource came out with their estimate of projected US soybean acreage plantings this season at 86.7 million acres, up from the 83.4 million acres last year.
  • NOPA January crush report today at 11am. The average estimates are for 1 million less bushels compared to the December crush.
  • Tuesday funds sold 5,000 corn, 8,000 soybeans, 2,000 wheat, 4,000 meal and 3,000 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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