Home Market Market Watch Morning Outlook

Morning Outlook


cid:<a href=image009.jpg@01CE6CE4.660D8B30“>

Overnight Highlights

  • Overnight grain markets: Corn -1 ¾, Soybeans -5 ¾, Wheat -5 ¾, Crude -.42, Gold +6.80, Dollar -.24, Dow futures +178.
  • The U.S. Dollar is down while the Brazilian Real is up, positive for trade.
  • The U.S. Central Bank will release their two day meeting verdict later today, with no rate change expected.
  • South Africa’s planted area for all summer crops is expected to decline by 8% this year due to dry/hot weather, with corn expected down 12% vs. last year.
  • Northern and western Argentina received a light smattering of rain overnight, while the main growing regions missed out. There is no change in South American weather forecasts of note.
  • Tuesday funds bought 12,000 corn, 11,000 soybeans, 7,000 wheat, 6,000 meal, 3,000 oil.
  • EIA Ethanol weekly report today.

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.

or 1-866-249-2528