Home Market Market Watch Morning Outlook

Morning Outlook


cid:<a href=image009.jpg@01CE6CE4.660D8B30“>

Overnight Highlights

  • In overnight markets: corn +1 ¼, soybeans + ¼, wheat + ¾, crude +.10, gold -3.10, Dollar +.35, Dow futures +25.     
  • The USDA reported corn planting 47% complete compared to 34% last week, 61% last year and 52% year-to-date average.  Expectations were for corn to be 44% complete.
  • The USDA reported soybean planting 14% complete compared to 10% last week, 21% last year, and 17% year-to-date average. Expectations were for soybeans to be 16% complete.
  • The USDA pegged spring wheat planting at 54% complete compared to 31% last week, 74% last year, and 60% average year-to-date.
  • The USDA rated winter wheat 53% good/excellent compared to 54% last week, 62% last year, and 48% average year-to-date.
  • It was reported that Mexico is close to inking a deal with Argentina for 30-50K MT of wheat. Mexico has been seeking alternative grain sources in response to President Trump’s intentions to re-negotiate trade agreements.
  • Monday funds sold 10,000 corn, 4,000 soybeans, 5,000 wheat, 2,000 meal. Bought 500 oil.
  • USDA Crop Production Report will be released Wednesday 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.

or 1-866-249-2528


Indiana Farm Expo