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Morning Outlook


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Overnight Highlights

  • Overnight grain markets: Corn – ¼, Soybeans +2, Wheat +3, Crude +.73, Gold -6.40, Dollar +.42, Dow futures +13.
  • Wheat traded into new lows in the overnight session.
  • USDA G/E Wheat ratings: Kansas 11% vs 12% last week; Oklahoma 5% vs 7% last week; Texas 10% vs 13% last week
  • Corn planting progress: Texas 35% complete vs 26% average; Louisiana 8% complete vs 0% last week; Mississippi 6% complete vs 4% average; Arkansas 2% complete vs 1% average.
  • Japan’s usage of corn for animal feed was up 6.5% from last year.
  • AgResource crop acreage estimates: corn 89.00 million vs 90 million last year; soybeans 90.5 million vs 89.5 million last year; all wheat 46.6 million vs 46.06 last year; all acreage 338.7 million vs 334.7 last year.
  • Monday funds sold 25,000 corn, 16,000 soybeans, 13,000 wheat, 9,000 meal. Bought 2,000 oil.

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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