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Morning Outlook

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Overnight Highlights

  • In overnight markets: corn -2 ¼, soybeans -4 ¾, wheat -2 ¼, crude +.18, gold -4.70, Dollar -.04, Dow futures +53.     
  • USDA Crop Progress: corn planting 17% vs. 6% last week, 28% last year and 18% average year-to-date.  Expectations were 15% complete.
  • USDA Crop Progress: soybean planting 6% complete compared to 3% last year and 3% average year-to-date.
  • USDA Crop Progress: spring wheat planting 22% complete vs. 40% last year and 34% average year-to-date.
  • Winter wheat rated 54% good/excellent compared to 59% last year and 48% average year-to-date.
  • Monday funds bought 8,000 corn, 8,000 soybeans, 6,000 meal. Sold 4,000 wheat, 4,000 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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