Home Market Market Watch Morning Outlook

Morning Outlook


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

Overnight Highlights

  • In overnight markets: corn – ¾, soybeans +3 ¼, wheat +1 ½, crude +.76, gold +4.50, Dollar -.09, Dow futures -23.     
  • EIA Ethanol reported weekly production at 1.01 million barrels/day, up 20,000 from the previous week. Ethanol stocks were down 158,000 barrels from last week to 23.0 million barrels.
  • Weekly export sales estimates: corn 700-900K MT, soybeans 300-500K MT, wheat 100-300K MT.
  • Wednesday funds bought 14,000 corn, 2,000 wheat. Sold 6,000 soybeans, 1,000 meal, 4,000 oil.
  • CONAB will release an update this morning regarding Brazil’s corn and soybean production.
  • Tomorrow is the last trading day for May grains.

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