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Morning Outlook


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Overnight Highlights

  • Overnight grain markets: Corn – ¼,  Soybeans -5 ¾, Wheat + ¼, Crude -.31, Gold +11.30, Dollar -.03, Dow futures +28.
  • Soybeans have broken through the moving averages and are trading into new lows.
  • Strategie Grains reduced its export forecast for EU wheat to 22.3 MMT from 22.9 MMT last month due to strong competition and slow sales from Poland and Germany.
  • Ukraine’s ag ministry is expecting grain exports this year to best last year’s record 43.9 MMT, somewhere in the range of 44-45 MMT.
  •  Wednesday funds bought 4,000 corn, 6,000 soybeans, 4,000 wheat, 3,000 meal. Sold 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.

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