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Morning Outlook

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Overnight Highlights

  • The markets are closed today in observance of President’s Day.
  • Japan’s exports growth slowed in January compared to the previous month due in part to a decline in shipments to the US, with continued concerns about trade and protectionism.
  • China is in talks with Japan to sell them 15-23K MT of corn, due to shortages from lengthy delays of cargos from the northwestern US.  Japan is expected to tap into emergency feed piles as they are at critically low levels.
  • Russian wheat prices rose for the fifth consecutive week, propelled by a stronger Ruble and demand from Egypt.
  • Export inspections will be announced tomorrow at 10am.

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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