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Morning Outlook

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Overnight Highlights

  • Overnight grain markets: Corn + ¼,  Soybeans -1 ¼, Wheat -1, Crude +.34, Gold +2.30, Dollar -.05, Dow futures +36.
  • Chinese government sources reported that the country’s top corn producing province will cut corn acres by 18% this year.
  • Soybeans off the PNW are the most competitively priced to Asia through February.
  • U.S. HRW wheat was the lowest bid for an Iraqi tender.
  • December looks to be one of the driest on record for a majority of the Plains.
  •  Friday funds sold 2,000 corn, 8,000 soybeans, 4,000 meal, 2,000 oil. Bought 1,000 wheat.
  • U.S. Congress is set to vote today or tomorrow on a sweeping tax overhaul.

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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