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Morning Outlook

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Overnight Highlights

  • In overnight markets corn – ½, soybeans -4 ½, wheat -1 ¼, crude +.74, gold +4.10, dollar +.18, Dow futures +9.     
  • Reuters took a poll of analysts and their estimates showed 91.0 million acres of corn plantings, 87.5 million acres of soybean plantings, and 46.8 million acres of wheat plantings.  Look for results from the USDA Outlook Forum this week.
  • Cattle on Feed Report will be released tomorrow with the following projections: On Feed 100.7%, Placements 111.1%, Marketings 109.8%.
  • Weekly export sales will be announced tomorrow due to the holiday.
  • Wednesday funds bought 7,000 corn, 6,000 wheat, 1,000 oil. Sold 5,000 soybeans, 4,000 meal.

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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