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Morning Outlook


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Overnight Highlights

  • Overnight grain markets: Corn +1 ¼, Soybeans +8, Wheat +9,  Crude -.07, Gold +2.90, Dollar +.19, Dow futures +6.
  • It has been reported that Mexican producers are encouraging the government to restrict imports of U.S. corn while NAFTA negotiations are at a critical stage.
  • Ukraine’s grain exports are down in the 2017/18 season by 8%, with the overall Ukrainian harvest 4.7 MMT lower than last year.
  • India’s wheat harvest is expected to be 1.4 MMT lower than last year’s record crop, with a reduction in acreage cited.
  • The Senate, after a long deliberation process, finally confirmed Bill Northey to serve as Under Secretary for Farm and Foreign Agricultural Service under U.S. Ag Secretary Sonny Perdue.
  • Tuesday funds bought 16,000 corn, 10,000 soybeans, 4,000 wheat, 6,000 meal. Sold 3,000 oil.
  • EIA Ethanol Weekly report at 9:30am 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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