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Morning Outlook

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Overnight Highlights

  • Overnight grain markets: Corn – ¾,  Soybeans flat, Wheat +1 ¼, Crude +.13, Gold -2.80, Dollar +.40, Dow futures +45.
  • China sold 20% of its 2013/2014 corn offerings in the overnight, 155,950 MT.
  • South Korea bought 60K MT of option origin corn.
  • EIA Ethanol report pegged production down 70K barrels/day from last week. Ethanol stocks were down 206K MT from last week.
  • Wednesday funds sold 10,000 corn, 1,000 wheat, 2,000 meal, 3,000 soybeans. Bought 2,000 oil.
  • USDA weekly export sales report this morning.

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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