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Morning Outlook

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Overnight Highlights

  • In overnight markets: corn -1, soybeans + ¾, wheat – ½, crude -.45, gold +3.20, Dollar -.21, Dow futures -16.     
  • AgRural estimates the Brazilian soybean harvest 87% complete vs. 85% average.  Corn harvest 76% complete vs. 75% average.
  • Commitment of Traders showed index funds: corn long 223,321 up 10,266, soybeans long 95,305 off 6,705, wheat long 96,597 up 2,401.
  • Commitment of Traders showed managed money: corn short 158,417 up 8,130, soybeans short 29,733 up 30,455, wheat short 134,459 off 4,375.
  • Export inspections will be announced at 10am today, NOPA crush report at 11am.     

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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