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Morning Outlook

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Overnight Highlights

  • In overnight markets; corn -1, soybeans -3, wheat -3, crude -.67, gold -1.0, Dollar +0.036, Dow futures -50.     
  • Grains softer overnight on lack of bullish news and weaker energy markets.
  • Brazilian Ag Ministry and Brazilian Police say the unsanitary meat packing problems are isolated incidents. Japan and Mexico have both suspended imports of poultry from Brazil.
  • 133 US Farm Organizations have warned the Trump administration that a trade war with Mexico could result in $3 billion in retaliatory tariffs.
  • Cold Storage report will be out this afternoon. Cattle on Feed report will be out Friday.
  • US Gulf FOB offers are up a penny in corn and soybeans this week.
  • Yesterday funds sold 5,000 corn, 4,000 wheat and bought 3,000 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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