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Morning Outlook


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Overnight Highlights

  • In overnight markets: corn +1 ¼, soybeans +3 ¼, wheat +1, crude +.45, gold -2.10, Dollar -.16, Dow futures +41.     
  • In an effort to help domestic producers sell their 2016/17 crop, Brazil announced they will be providing $159 million in subsidies.
  • EIA ethanol reported production at 993K barrels/day, up 7,000; ethanol stocks at 23 million barrels, up 131K from last week.
  • South Korea bought 70K MT of U.S. or South American corn for August and is tendering for 207K MT optional origin for September.
  • Weekly export sales will be announced today.
  • USDA Cattle Report on Friday.
  • Wednesday funds bought 7,000 soybeans, 6,000 oil.  Sold 3,000 corn, 4,000 wheat, 4,000 meal.      

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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