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Morning Outlook

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Overnight Highlights

  • Overnight grain markets: Corn -1 ¼,  Soybeans even, Wheat –1 ¾, Crude +.04, Gold -1.10, Dollar -.06, Dow futures -18.
  • USDA Crop Progress yesterday afternoon showed corn 22% harvested compared to 30% expected and the five-year average of 37%.
  • USDA Crop Progress yesterday afternoon showed soybeans 36% harvested compared to 45% expected and the five-year average of 43%.
  • USDA Crop Progress yesterday showed winter wheat 48% planted compared to the five-year average of 58%.
  • Tuesday funds sold 3,000 corn, 4,000 soybeans, 1,000 wheat, 2,000 oil. Meal even.
  • EIA Energy Stocks Report today.
  • USDA Crop Production and Supply & Demand Report tomorrow at 11am 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.

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