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Morning Outlook

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Overnight Highlights

  • Overnight grain markets: Corn -9, Soybeans -34, Wheat -2-5, Crude -.91, Gold +13.2, Dollar -.02, Dow futures -480.
  • The announcement a 25% US Ag good tariffs was announced this morning at 2:05 am ct by China.  Estimated at 50 billion worth of soybeans, sorghum, corn, high protein wheat, cattle, and others.
  • USDA Secretary Sonny Purdue said late Tuesday in Michigan that the Trump Administration is working on ideas for compensating US farmers who have been harmed by China’s retaliatory tariffs on US commodities.
  • There has been no announcement by either side of when the tariffs would actually take place.
  • Markets across the board re-acted (stocks and grains) swiftly and have back off those initial reactions.

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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