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Morning Outlook


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Overnight Highlights

  • In overnight markets corn -1, soybeans -5 ½, wheat -1 ¾, crude -1.07, gold -4.60, Dollar +.01, Dow futures -25.     
  • EIA weekly ethanol report showed production down 4 million gal/week but still 4.5% of last year.  Ethanol stocks were down 10 million gallons after nine straight weeks of increases.  Gasoline had an increase in demand but is still behind last year.
  • In spite of Chinese tariffs on DDGs, the US exported a record number in January, as other buyers filled in the gap.  Total shipments since September are neck-and-neck with last year’s record of 4.9 MMT.
  • Saudi Arabia is tendering for 720K MT of hard wheat.
  • USDA Supply & Demand report at 11am today.
  • Wednesday funds sold 5,000 wheat, 9,000 corn, 4,000 soybeans, 1,000 meal, and 3,000 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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