Home Market Market Watch Morning Outlook

Morning Outlook


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

Overnight Highlights

  • Overnight grain markets: Corn -1 ¼,  Soybeans -3 ¾, Wheat -1 ¼, Crude +.09, Gold -2.50, Dollar -.31, Dow futures +8.00.
  • It is thought that Argentina may have lost 173K wheat acres due to flooding, which represents 1.3% of the planted area.
  • France Agrimer reported the corn crop to be 79% good/excellent, unchanged from last week. Harvest is in the beginning stages.
  • According to Oil World, Chinese imports will remain around the 93 MMT level for 2017/18. Their domestic production is expected to increase by 4.5 MMT, but increased demand will make up the difference.
  • NOPA crush report to be released today.
  • Thursday funds bought 6,000 corn, 10,000 soybeans, 5,000 meal. Sold 1,000 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.

or 1-866-249-2528