Home Market Market Watch Morning Outlook

Morning Outlook

SHARE

cid:<a href=image009.jpg@01CE6CE4.660D8B30“>

Overnight Highlights

  • Overnight markets have corn –3,  soybeans -7, wheat -3 ¾, crude oil -.25, dollar +.24, gold +2.40 and the Dow -44.
  • The Russian government reported their grain crop is projected to be a record yield of 119 MMT.
  • USDA weekly export sales showed soybeans at 890K MT vs. estimates of 500-750K MT; corn was pegged at 783,500 MT compared to estimates of 900K-1.1 MMT
  • Buenos Aires Grain Exchange left their soybean production estimate unchanged at 54.8 MMT, but added the number may grow with continued favorable conditions.
  • Thursday sold 5,000 wheat, 9,000 corn, 10,000 soybeans, 4,000 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.

www.waterstreet.org 
or 1-866-249-2528