Home Market Market Watch Morning Outlook

Morning Outlook


cid:<a href=image009.jpg@01CE6CE4.660D8B30“>

Overnight Highlights

  • Overnight grain markets: Corn + ¼, Soybeans +7, Wheat -3 ¼, Crude +.71, Gold +7.20, Dollar -.08, Dow futures -215 .
  • President Trump is postponing any changes on biofuel policy for at least three months in an attempt to protect producers that are anxious regarding trade with China.
  • Argentina bought a large order of soybeans yesterday, estimated by analysts to be between 120K-400K MT. They may need to import up to 1 MMT this year due to thin supplies.
  • French Agrimer has lowered their estimate of soft wheat inventory to 2.7 MMT vs 3.2 MMT previously.
  • Tuesday funds sold 6,000 corn, 6,000 meal. Bought 6,000 soybeans, 4,000 wheat, 4,000 oil.
  • EIA Ethanol Report at 9:30am CDT.

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.

or 1-866-249-2528