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Morning Outlook


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Overnight Highlights

  • Overnight grain markets: Corn +1, Soybeans EVEN, Wheat +2 ¾, Crude +.05, Gold -12.80, Dollar -.39, Dow futures +47.
  • Last night light rain fell over Central/Western Argentina of 0.1” to 0.3”
  • U.S. Dollar continuing to push lower, below 89.00.
  • Algeria purchased 500K MT+ of optional origin milling wheat, thought to be sourced from France and Argentina.
  • Canadian grain and oilseed acres are expected to increase by 4% this year, likely due to the weak Canadian Dollar.
  • Thursday funds sold 5,000 corn, 4,000 meal, 3,000 oil. Bought 2,000 wheat. Even soybeans.
  • USDA Weekly Export Sales Report this morning. Estimates include: wheat 250K-500K MT; corn 900K-1.3 MMT; soybeans 800K-1.3 MMT.
  • Cattle on Feed Report at 2pm 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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