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Morning Outlook

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Overnight Highlights

  • Overnight grain markets: Corn -4 1/2, Soybeans -18 3/4, Wheat -4 1/2, Crude -.53, Gold -2.0.
  • Soybeans leading the weakness overnight as President Trump announced he is considering $100 billion in tariffs in addition to the $50 billion already planned against China. “Rather than remedy its misconduct, China has chosen to harm our farmers and manufacturers” Trump stated.
  • China’s Ambassador to the US said in response to Trumps statement that China will “fight the US at any cost”.
  • The Argentine Grain Exchange lowered their estimate of the 2018 soybean crop to 38.5 MMT’s. Some other estimates are as low as 34-36 MMT’s.
  • It is April 6th today and it is snowing here this morning in Lincoln NE. April could be a tough planting month.

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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