Home Market Market Watch Morning Outlook

Morning Outlook

SHARE

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

Overnight Highlights

  • In overnight markets: corn – 1 ¾, soybeans + ½, wheat -1 ¾, crude +.21, gold +4.20, Dollar -.42, Dow futures +16.     
  • The USDA reported corn planting at 71% compared to expectations of 68%. Last year same time was 73%, with 70% being the average year-to-date.
  • Soybean planting jumped to 32% complete compared to 14% last week. Last year same time was 34%, with 32% being the average year-to-date.
  • Spring wheat was at 78% compared to 54% last week, 87% last year and 73% average year-to-date.
  • Winter wheat rated good/excellent declined to 51% from 53% last week, 62% last year and 48% average.
  • Brazil’s Energy Minister says that they will tighten up requirements on U.S. ethanol imports in an effort to protect their domestic producers.
  • Monday funds sold 7,000 corn, 6,000 wheat, 2,000 meal. Bought 4,000 soybeans, 2,000 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.

www.waterstreet.org 
or 1-866-249-2528