Home Market Market Watch Morning Outlook

Morning Outlook

SHARE

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

Overnight Highlights

  • Overnight grain markets: Corn – ¾, Soybeans +4 ¼, Wheat – ½, Crude -.80, Gold +6.80, Dollar +.30, Dow futures -213.
  • No rain overnight in Argentina, as soybeans were able to turn back positive this morning. Some rains forecasted this weekend through Monday.
  • China’s tough stance on U.S. sorghum imports is causing producers to consider other cash crops rather than risk a limited market. China is investigating anti-dumping charges.
  • Long in the making, China has approved hog futures contracts for their national exchange. China is the world’s largest hog producer.
  • Japan has put in their weekly tender for 100K MT of U.S., Canadian and Australian wheat.
  •  Monday funds sold 8,000 corn, 9,000 soybeans, 5,000 wheat, 4,000 meal, 4,000 oil.
  • USDA Report this Thursday at 11am, Crop Production & Supply/Demand.

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.

www.waterstreet.org 
or 1-866-249-2528