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Morning Outlook

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Overnight Highlights

  • In overnight markets; corn even, soybeans -4, wheat +2, crude +.35, gold -1.6, Dollar -0.08, Dow futures +37.     
  • Weakness in the soybean market overnight on South American crop weight and soft cash premiums.
  • The EU asked Brazil to voluntarily suspend all shipments of meat to member countries to keep them from imposing an official ban.
  • Buenos Aires Grain Exchange issued a report estimating 16/17 soy production at 56.5 mln mt – up from the previous estimate of 54.8 mln.
  • USDA Cattle on Feed report out this afternoon. Estimates; On Feed 100.1%, Placements 98.9%, Marketings 103.3%.
  • Thursday funds were estimated sellers of 6,000 corn, 7,000 soybeans and 2,000 wheat.

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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