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Morning Outlook

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Overnight Highlights

  • In overnight markets corn +2 ¼, soybeans +7, wheat +2 ¾, crude +.35, gold +24.30, Dollar -.12, Dow futures +60.     
  • Egypt bought 420K MT of Russian, Ukrainian and French wheat.
  • EIA reported ethanol weekly production up 23,000 barrels from last week and ethanol stocks off 90,000 barrels from last week.
  • Brazil is on a record pace for March shipments of soybeans – expected to be 9.5 MMT vs 8.3 MMT last year.
  • Weekly export sales are due out today.
  • Wednesday funds bought 4,000 corn, 3,000 wheat. Sold 3,000 soybeans, 3,000 oil, even 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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