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Morning Outlook

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Overnight Highlights

  • In overnight markets corn -1, soybeans +1/2, wheat -1 ¾ to -3, crude +.30, gold -1.2, Dollar -.584, Dow futures +18.     
  • Lower markets overnight as big crop talk out of South America weighs on the markets and lack of friendly headlines ahead of the March 31 planting intentions report.
  • Texas has reported corn planting as 31% complete vs 27% on average.
  • Winter wheat conditions showed; TX 34% G/E, KS 38% G/E and OK 40% G/E.
  • Export loadings; Soybeans at 45.7 mln mt vs 40.9 mln mt a year ago on this date. Corn at 30.2 mln mt vs 17.5 mln mt a year ago. Wheat at 20.6 mln mt vs 16.1 mln a year ago.
  • Yesterday funds sold 8,000 corn, 5,000 wheat and were even on soybeans.  

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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