Home Market Market Watch Morning Outlook

Morning Outlook

SHARE

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

Overnight Highlights

  • Overnight grain markets: Corn +2, Soybeans +16 ¾, Wheat +3 ¾,  Crude +.43, Gold -16.00, Dollar +.51, Dow futures -165.
  • Argentine soybean production estimates continue to decline with most in agreement at under 50 MMT, while some estimates have fallen to 37-42 MMT.
  • Safras’ latest estimate of Brazilian soybean production is 115.6 MMT, which would be a new record. Brazil’s soybean harvest is 17% complete, compared to the average of 26% complete according to AgRural.
  • Friday funds sold 3,000 corn, 7,000 soybeans, 4,000 wheat, 3,000 oil. Bought 2,000 meal.
  • USDA Weekly Inspections Report will be released this morning due to the Holiday yesterday.

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