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Morning Outlook


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Overnight Highlights

  • Overnight grain markets: Corn + ¼,  Soybeans -2 ¾, Wheat +2, Crude -.19, Gold -1.40, Dollar +.02, Dow futures +75.
  • 1st notice day on Dec contracts is tomorrow – if long at close today, subject to delivery.
  • U.S. ethanol producers are looking for new markets as China and Brazil took 41% of U.S. ethanol imports last year, but will be purchasing much less due to China removing preferential treatment and Brazil’s quota on imports. Mexico and India have the most potential to fill the gap.
  • Brazil’s lower house passed a bill that will likely increase biofuel use domestically from 16 billion liters in 2016 to 40 billion liters by 2030.
  • Algeria purchased 330K MT of optional origin wheat, while Japan is looking for 150K MT of food grade wheat in their next tender.
  • Tuesday funds sold 10,000 corn, 3,000 soybeans, 1,000 wheat, 5,000 meal. Bought 5,000 oil.
  • EIA Energy Stocks report at 9:30am CST.

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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