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Morning Outlook


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Overnight Highlights

  • In overnight markets corn + ¼, soybeans +2 ½, wheat -2 ¾, crude +.87, gold -1.60, dollar -.03, Dow futures -4.     
  • Mexico is sending a trade delegation to Brazil next week to discuss sourcing them as an alternative to the US for corn, soybean and chicken.  Mexico has traditionally been the largest buyer of US corn, but is concerned with the US wanting to “unilaterally change the established rules of the game.”
  • The Commitment of Traders report on Friday showed index fund positions: corn long 280,745 up 11,359, soybeans long 120,356 off 2,509, and wheat long 85,258 off 4,824.
  • The Commitment of Traders report on Friday showed managed money: corn long 92,216 up 6,856, soybeans long 154,307 off 16,361, and wheat short 27,385 off 12,662.
  • Tomorrow is First Notice Day for March contracts.

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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