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Morning Outlook

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Overnight Highlights

  • Overnight grain markets: Corn – ½  Soybeans -2 ½, Wheat -1, Crude -.29, Gold -1.1, Dollar +.154, Dow futures +31.
  • Soybeans made new lows in the overnight at 9.52.
  • China changed an import policy with regard to U.S. soybeans: inspections on shipments with less than 1% of foreign material will be expedited through the ports, while those over 1% FM could be held subjected to further testing.
  • Weekly export sales estimates are as follows: corn 800,000 – 1,200,000; soybeans 1,300,00 – 1950,000; wheat 300,000 – 600,000.
  • Funds on Wednesday bot 5,000 corn, 3,000 wheat and 1,00 meal while selling 5,000 soybeans and 5,000 oil

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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