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Morning Outlook


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Overnight Highlights

  • Overnight grain markets: Corn +3,  Soybeans +5 ½, Wheat +4 ¼, Crude +.53, Gold -4.00, Dollar -.20, Dow futures +4.
  • November soybeans closed above the 50-day moving average yesterday.
  • South American weather is receiving more scrutiny, as N Brazil has started planting soybeans. There is not much moisture and none in the near future in that part of the country.
  • Argentina’s Rosario Exchange upped their 2016/17 corn production estimate from 38 MMT to 41 MMT and lowered their soybean estimate to 54.5 MMT from 57.3 MMT.
  • USDA weekly export sales report this morning.
  • NOPA Crush Report tomorrow at 11am CDT. The average estimate is 137.5 mbu compared to 144 mbu in July and 131.8 mbu last year.
  • Wednesday funds bought 5,000 soybeans, 1,000 wheat, 3,000 meal. Sold 5,000 corn, 1,000 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.

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