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Morning Outlook

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Overnight Highlights

  • Overnight grain markets: Corn +2, Soybeans +5 ½, Wheat -3 ¼, Crude -.26, Gold +.90, Dollar -.31, Dow futures +217.
  • The Dollar is trading into new lows, while the Brazilian Real is also off, reversing out of new highs.
  • Egypt’s GASC is in for Feb wheat, likely to go to the Black Sea Region as wheat values there have been steady.
  • President Trump indicated that NAFTA negotiations could be extended due to the Mexican Presidential Election mid-summer.
  • Friday funds sold 13,000 corn, 11,000 wheat. Bought 11,000 soybeans, 3,000 meal. Even oil.
  • USDA Weekly Export Inspections at 10am CST.
  • NOPA Crush is at 11am CST.

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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