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Morning Outlook


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Overnight Highlights

  • Overnight grain markets: Corn – 4, Soybeans -12 ¾, Wheat -6 ¾, Crude -.15, Gold -1.60, Dollar -.15, Dow futures -129.
  • President Trump is negotiating with several countries regarding exemptions to aluminum and steel tariffs. Canada and Mexico are currently exempt from the tariffs.
  • China’s Minister of Ag and Rural Affairs says that PRC corn usage is expected to hit 224 MMT this year.
  • Australia had the lowest offer for Iraq’s tender for 50K MT of wheat.
  • Commitment of Traders Report with options as of Tuesday March 16th showed managed funds: corn long 233,000 up 70,000; soybeans long 208,000 up 24,000; wheat short 36,000 up 3,000; soymeal long 111,000 off 4,000; soybean oil short 21,000 off 12,000.
  • Friday funds sold 10,000 corn, 9,000 wheat. Bought 7,000 soybeans, 1,000 oil, 2,000 meal.
  • USDA Weekly Inspections Report at 10am 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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