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Morning Outlook

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Overnight Highlights

  • CBOT opens at 8:30am this morning.
  • It is reported that China imported 8.68 MMT of soybeans in November, from the following countries: U.S. 53%, Brazil 32% and Argentina 8%.
  • India is expected to produce 100 MMT of wheat by some analysts, which would be a record – this in spite of 3.6% less acres planted than last year. In wheat production, India is second only to China.
  • Egypt has plans to purchase 7 MMT of wheat this year, as their domestic wheat acres are down to 3.25 million acres from the previous estimate of 3.5 million acres.
  • Commitment of Traders Report with Options showed Managed Funds: corn short 222,153 up 24,961; soybeans flipped short 40,771 off 60,527; wheat short 153,577 off 4,074.
  • For the COT week reported, soybeans fell 19 ¾ cents.

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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