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Morning Outlook


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Overnight Highlights

  • Overnight grain markets: Corn + ¼,  Soybeans +3 ¾, Wheat +2 ¼, Crude -.36, Gold -4.20, Dollar +.17, Dow futures +88.
  • In Argentina, growers are expecting to expand corn plantings again this year by 5.2% while soybean plantings are expected to decline by 7%.
  • It was reported by the BA Grain Exchange that Argentina’s corn planting progress is 27.7% complete, ahead of last year’s 22.7%.
  • China’s overnight auction produced sales of 1.95 MMT of corn of 3.77 MMT offered. There were no takers for soybeans out of the 84K MT offered.
  • China is planning to sharply increase ethanol output to 4-5 MMT per year over the next 3-5 years, compared to their current production of 2.5 MMT. This is a result of plans to blend more ethanol into the national fuel supply.
  • The French reported 56% of their corn is harvested, up 28% over last week.
  • Thursday funds bought 1,000 corn, 5,000 soybeans, 3,000 wheat.

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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