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Morning Outlook

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Overnight Highlights

  • In overnight markets corn -1 ¾, soybeans -5, wheat -1 ½, crude +.33, gold -7, Dollar +.01, Dow futures +72.     
  • USDA reported weekly export sales: Corn at 741,100 MT vs. estimates of 700K-1M M and year-to-date 44.1 vs. 28.8 last year; Soybeans sales at 485,500 MT vs estimates of 350K-650K MT and year-to-date sales of 53 MMT vs. 42.7 MMT last year.
  • South Korea purchased 60K MT of optional origin grain.
  • Tunisia tendered for 75K tons of soft wheat.
  • Thursday funds sold 4,000 wheat, 14,000 corn, 9,000 soybeans, 2,000 meal, and 4,000 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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