Home Market Market Watch Morning Outlook

Morning Outlook

SHARE

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

Overnight Highlights

  • In overnight markets: corn +2, soybeans +8, wheat +1 ¾, crude +.41, gold +5.60, Dollar index -.44, Dow futures -14.  
  • USDA corn crop conditions are at 67% good/excellent compared to 75% last year and 69% average year-to-date. The trade was expecting 69%.
  • USDA soybean crop conditions were announced at 66% good/excellent (down 1% from last week) compared to 72% last year and 65% average year-to-date. Trade was expecting 68%.
  • USDA spring wheat conditions lost another point to 40% good/excellent compared to 72% last year and 74% average year-to-date. Trade was expecting 41%.
  • Winter wheat harvest is seen to be 41% complete compared to 42% last year and 35% year-to-date.
  • Monday funds bought 5,000 corn, 3,000 soybeans, 2,000 meal. Sold 6,000 wheat, 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