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Morning Outlook

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Overnight Highlights

  • In overnight markets; corn +1 ¼, soybeans +2, wheat +1 ½, crude +.37, gold -2.40, Dollar +.08, Dow futures -138.     
  • Markets are oversold – will we get a Turnaround Tuesday?
  • Corn planting progress is ahead of schedule in the southern US – Texas 45%, Louisiana 80%, Mississippi 30%, and Arkansas 19% complete.
  • India will levy a 10% import tax on wheat effective immediately.
  • Georgia added to the list of reported bird flu cases yesterday.
  • Monday funds sold 9,000 corn, 4,000 soybeans, 3,000 wheat, 3,000 meal. Bought 1,000 oil.

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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