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Morning Outlook

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Overnight Highlights

  • Overnight grain markets: Corn –1 ¼, Soybeans -2 ½, Wheat -4 ¼,  Crude -.43, Gold +6.30, Dollar -.01, Dow futures +137.
  • Expectations for the NOPA Crush Report tomorrow: 165.6 mbu vs. 166.3 mbu in December and compared to last year’s 160.6 mbu.
  • Ukraine grain exports are running behind last year by 9%.
  • French Agrimer reduced non-EU wheat exports for the fourth month in a row, as the Black Sea Region has proved to be a formidable competitor.
  • CME raised margin requirements for Soymeal, KC Wheat and Chicago Wheat.
  • Tuesday funds sold 5,000 corn, 4,000 wheat, 6,000 oil. Bought 10,000 soybeans, 8,000 meal.
  • EIA Ethanol Report this morning.

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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