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Morning Outlook

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Overnight Highlights

  • Overnight grain markets: Corn +1 ¾,  Soybeans +4, Wheat – ¾, Crude -.83, Gold +4.10, Dollar +.04, Dow futures -29.
  • Soybeans are finding support in the U.S. Int’l Trade Commission making a final finding against Indonesia and Argentina, ensuring that anti-dumping duties on biodiesel imports will remain in place for at least 5 years.
  • Egypt’s Supply Minister has indicated that Egypt will by a total of 7 MMT during the fiscal year that began last July. So far, they have purchased 2.7 MMT.
  • Stats Canada will release its final production numbers this morning.
  • EIA Energy Stocks report this morning.
  • Monday funds bought 3,000 corn, 10,000 soybeans, 7,000 meal, 4,000 oil. Sold 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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