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Morning Outlook

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Overnight Highlights

  • Overnight grain markets: Corn + ½,  Soybeans +2 ½, Wheat -1 ¼, Crude +.22, Gold +4.90, Dollar +.08, Dow futures +89.
  • Soybeans made new lows in the overnight at 9.53 ¼ before bouncing back.
  • Brazil is expecting to export more soybeans in December than ever before, as 2.4 MMT are still scheduled to go out by month end.
  • Frigid temps are expected in the Great Plains around the holidays, and there is some concern about potential winterkill of HRW wheat, with snow cover lacking.
  • December Hogs and Pigs Report estimates for this Friday: All Hogs 102.6%, Kept for Breeding 100.8%, Sep-Nov Farrowings 100.8% and Sep-Nov Pig Crop 101.9%.
  • Friday funds bought 3,000 corn, 3,000 oil. Sold 7,000 soybeans, 2,000 wheat, 5,000 meal.

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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