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Morning Outlook

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Overnight Highlights

  • Overnight grain markets: Corn + ¾, Soybeans +4 ¼, Wheat +4 ½,  Crude -.13, Gold -.40, Dollar +.11, Dow futures +98.
  • High floodwaters on the IL River prompted the CME to call Force Majeure, with many shipping locations unable to load.
  • President Trump has called for a meeting to discuss RINS next week. This is a potential divide in the Republican party and between Trump supporters, with Big oil facing off against Ethanol.
  • A leading ag industry economist indicated that Brazil still has about 20 years ahead of it to fully resolve its overall infrastructure issues, even with the recent billions spent on ports.
  •  Thursday funds bought 7,000 corn, 3,000 wheat. Sold 6,000 soybeans, 3,000 meal. Oil even. March options expire today.
  • USDA Weekly Export Sales at 7:30am and Cattle on Feed at 2:00pm 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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