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Morning Outlook

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Overnight Highlights

  • Overnight grain markets: Corn + ¾,  Soybeans +7, Wheat +1 ¼, Crude -.15, Gold -3.60, Dollar +.06, Dow futures -18.
  • Corn yield reports in IL and IA have been trending slightly higher while soybean yields have been trending lower.
  • South Korea is tendering for 65K MT of corn and 55K MT of soymeal.
  • Egyptian Supply Minister indicated that their wheat stockpiles are at an adequate level and that they will not need to build up an more supplies at this time. Their intention is to keep wheat imports steady in 2018/19 at 7 MMT.
  • Tuesday funds bought 8,000 corn, 7,000 soybeans, 2,000 wheat. Sold 4,000 meal, 3,000 oil.  
  • EIA Energy Stocks this morning at 9:30am 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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