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Morning Outlook

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Overnight Highlights

  • In overnight markets corn +1 ¾, soybeans +7 ¼, wheat +5 ½, crude +.81, gold -1.80, Dollar -.11, Dow futures +28.     
  • President Li from China plans to meet with President Trump in FL next month.  He was quoted as saying that he has hopes that the trade relationship with the US will move forward in a positive direction.
  • It is reported that China has bought 195K MT of corn for late spring/summer and there is chatter that as much as 400-500K MT was sold in total.
  • Egypt is tendering for soft milling wheat, and taking offers from many countries, while Jordan is in for 100K MT of hard milling wheat.
  • NOPA February crush report and EIA Energy Stocks will be announced today.
  • Tuesday funds bought 6,000 corn, 1,000 wheat, 3,000 oil. Sold 3,000 soybeans, 1,000 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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