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Morning Outlook

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Overnight Highlights

  • In overnight markets; corn – ½, soybeans +1 ¼, wheat – ¼, crude +.05, gold +7.50, Dollar +.03, Dow futures +20.     
  • Grains mixed overnight with the lack of big news.  All eyes on the meeting of Presidents, as Trump hosts the Chinese President in Florida this week.
  • There is chatter that China bought 10-15 cargos of Brazilian soybeans.
  • EIA Ethanol reported weekly production off 35,000 barrels from last week and ethanol stocks up 448,000 barrels from last week.
  • Export sales will be announced this morning.
  • Wednesday funds bought 8,000 soybeans, 6,000 corn, 2,000 wheat, 3,000 meal, 5,000 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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