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Morning Outlook

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Overnight Highlights

  • Overnight grain markets: Corn + ½, Soybeans +1, Wheat + ¾,  Crude -.11, Gold -3.20, Dollar -.37, Dow futures +157.
  • Soybeans made new highs in the overnight, following meal’s lead.
  • Argentina’s Rosario Exchange is saying that their soybean crop could come in at below 50 MMT this year, which compares with 57.8 MMT.
  • Russia’s Ag Minister is predicting a minimum 110 MMT grain crop in 2018 – last year was a whopping 134.1 MMT.
  • China’s Dalian markets are closed due to the Lunar New Year Holiday.
  • Wednesday funds bought 5,000 corn, 9,000 soybeans, 6,000 meal, 3,000 oil. Sold 5,000 wheat.
  • USDA Weekly Export Sales this morning. NOPA Crush Report at 11am 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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