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Morning Outlook


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Overnight Highlights

  • Overnight grain markets: Corn -3 ¼, Soybeans -7 ½, Wheat -6 ½, Crude -.69, Gold +1.20, Dollar +.07, Dow futures -260.
  • Grains are trading lower, receiving pressure from sharp declines in world equity markets following the DOW’s 600+ point loss on Friday.
  • China launched an anti-dumping/anti-subsidy investigation into U.S. sorghum imports. Is this a reaction to President Trump’s tariffs on washing machines and solar panels? And, will they focus on soybeans next?
  • Saudi Arabia bought 739K MT of wheat from Europe, North/South America and Australia. Egypt’s GASC booked 180K MT of Russian wheat.
  • Commitment of Traders Report with options showed managed funds: corn short 130,942 off 88,734; soybeans short 21,849 off 59,689; wheat short 96,763 off 48,645.
  • Friday funds sold 7,000 corn, 5,000 soybeans, 4,000 wheat, 4,000 meal, 4,000 oil.
  • USDA Weekly Export Inspections at 10am 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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