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Morning Outlook


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Overnight Highlights

  • Overnight grain markets: Corn +1 ¾, Soybeans +10 ½, Wheat +6 ¼, Crude +.43, Gold -4.20, Dow futures +158 .
  • Safras & Mercado estimates that 52% of Brazil’s 2017/18 soybean crop has been sold.
  • President Trump will be discussing biofuels during his Cabinet meeting today.
  • Korean firms are buying several cargos of corn today – KOCOPIA 60K MT and MFG 125K MT.
  • Commitment of Traders Report with Options showed managed funds: corn long 140,000 up 23,000; soybeans long 181,000 off 2,000; wheat short 73,000 off 4,000; soymeal long 98,000 off 4,000; soyoil short 22,000 off 14,000.
  • Friday funds sold 10,000 corn, 4,000 oil. Bought 6,000 soybeans, 5,000 wheat, 4,000 meal.  

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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