Home Market Market Watch Morning Outlook

Morning Outlook


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

Overnight Highlights

  • Overnight grain markets: Corn –2,  Soybeans -14 ¼, Wheat – ¼, Crude -.30, gold -.90, Dollar +.13, Dow futures +97.
  • USDA reported corn crop conditions for corn at 61% good/excellent compared to 62% last week, 76% last year and 63% average year-to-date. IL was unchanged while IA dropped 3%.
  • USDA reported soybean crop conditions at 59% good/excellent compared to 57% last week, 72% last year and 61% average year-to-date. IL was up 7% while IA down 2%.
  • USDA reported spring wheat conditions 31% good/excellent compared to 33% last week, 68% last year and 69% average year-to-date.
  • Year-to-date export loadings/inspections: corn is at 94% of the total USDA estimate compared to 88% five year average; soybeans are at 98% of the total USDA estimate compared to 96% five year average; wheat is at 18% compared to the five year average of 17%.
  • USDA Crush Report due out today at 2pm CDT.

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