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Morning Outlook

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Overnight Highlights

  • In overnight markets corn +3, soybeans +8 ½, wheat +8 ¼, crude +.21, gold -1.70, dollar +.55, Dow futures +88.     
  • Markets were up sharply yesterday early in the session from rumors that the Trump Administration was going to issue an Executive Order regarding the RFS mandate.  The White House denied the rumor later in the day, but nonetheless the markets finished positive and are up this morning.
  • Egypt was in for 535 MT of wheat yesterday – 230 Russian, 120 Romanian, 120 French, 60 Ukranian.
  • Japan bought 113K MT of high quality US and Australian wheat in its weekly tender.
  • The USDA January crush report comes out at 2pm today.
  • Tuesday funds bought 24,000 corn, 17,000 soybeans, 7,000 wheat, 14,000 meal, 1,000 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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