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Morning Outlook

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Overnight Highlights

  • Overnight grain markets: Corn -1,  Soybeans –2 ½, Wheat -2, Crude +.34, Gold -1.60, Dollar -.07, Dow futures +128.
  • USDA Crop Progress: corn 38% harvested compared to 59% last year and 59% average year-to-date.
  • USDA Crop Progress: soybeans 70% harvested compared to 74% last year and 73% average year-to-date.
  • USDA Crop Progress: winter wheat 75% planted compared to 78% last year and 80% average year-to-date.
  • Preliminary anti-dumping tariffs on Argentine biodiesel imported into the U.S. have been set by the Secretary Ross of the Commerce Dept. at 54-70%.
  • Monday funds bought 15,000 corn, 4,000 soybeans, 7,000 wheat, 6,000 oil. Sold 2,000 meal.  

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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