Home Market Market Watch Morning Outlook

Morning Outlook


cid:<a href=image009.jpg@01CE6CE4.660D8B30“>

Overnight Highlights

  • Overnight grain markets: Corn – ½,  Soybeans -7 ¾, Wheat – ½, Crude +.08, Gold -9.80, Dollar +.14, Dow futures -23.
  • Chinese soybean futures were down 3% overnight, to a 9-year low, due to large volumes of imports pressuring domestic prices.
  • Ethanol production last week was reported to be a record high, up 42,000 barrels/day to 1.108 million barrels/day. Ethanol stocks are up to a 6-month high.
  • U.S. Gulf corn is currently the world’s cheapest feed grain. Gulf soybeans are the world’s low cost origin into March, according to AgResource.
  • Wednesday funds sold 4,000 corn, 9,000 soybeans, 5,000 wheat, 5,000 meal, 4,000 oil.
  • USDA Weekly Export Sales report this morning.

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.

or 1-866-249-2528