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Morning Outlook

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Overnight Highlights

  • In overnight markets; corn -1, soybeans -3 ¾, wheat – ½, crude -.18, gold -4.00, Dollar +.13, Dow futures -19.     
  • Markets are oversold and continuing to correct in front of Friday’s USDA report.  Keeping rallies in check are large supplies and a bumper South American crop.
  • There is chatter that Mexico bought a cargo of South American corn and may be in for more.
  • Wednesday funds sold 4,000 soybeans, 3,000 oil. Bought 2,000 corn, 2,000 meal, 1,000 wheat.
  • Featured today are the weekly exports and Hogs & Pigs Report.
  • USDA planting intentions and quarterly grain stockpiles will be reported this Friday at 11am CDT.

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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