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Morning Outlook

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Overnight Highlights

  • Overnight grain markets: Corn -1 ½,  Soybeans +1 ½, Wheat – ¾, Crude +.02, gold +6.70, Dollar -.03, Dow futures +13.
  • Commitment of Traders report on Friday showed as of July 11th Managed Money: corn long 100,964 up 147,679; soybeans long 19,048 up 89,264; wheat long 44,685 up 1,371.
  • Expectations for corn conditions are for corn 64-66% good/excellent compared to 65% last week; soybeans 61-63% compared to 62% last week.
  • Friday funds bought 12,000 corn, 9,000 soybeans, 4,000 meal, 3,000 oil. Sold 2,000 wheat.
  • NOPA June crush report and USDA inspections this morning. USDA Crop Conditions report this afternoon.

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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