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Morning Outlook


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Overnight Highlights

  • Overnight grain markets: Corn + ¾, Soybeans +3, Wheat +2 ¾,  Crude -.26, Gold +1.30, Dollar +.02, Dow futures -37.
  • Winter wheat conditions: KS 12% vs 14% last month and 43% last year; OK 4% vs 4% last month and 43% last year; CO 31% vs 37% last month and 40% last year; IL 45% vs 38% last month and 72% last year.
  • President Trump is meeting today with Senate and Cabinet members including Sen Cruz, Sen Grassley, VP Pence, USDA Sec Perdue and EPA Head Pruitt to discuss potential changes to the RFS.
  • First Notice Day for March futures tomorrow – expect active rolling of positions today.
  •  Monday funds bought 16,000 corn, 7,000 wheat, 3,000 meal, 4,000 oil. Soybeans even.

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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