Home Market Market Watch Morning Outlook

Morning Outlook

SHARE

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

Overnight Highlights

  • Overnight grain markets: Corn -1 ¾, Soybeans + ¾, Wheat -9 ½, Crude -.43, Gold -10.70, Dollar +.24, Dow futures +127.
  • U.S. attaché in Brazil predicts 2017/18 corn production to be 89 MMT compared to the official USDA position of 92 MMT.
  • Rosario Grain Exchange adjusted Argentine soybean production down to 37 MMT from its prior estimate of 40 MMT. Corn is seen at 32 MMT, in line with their last forecast.
  • ABIOVE upped Brazilian soybean production projection to 117.4 MMT, which is 2.3% higher than their last estimate.
  • Wednesday funds sold 8,000 corn, 6,000 soybeans, 6,000 wheat, 5,000 meal, 7,000 oil.
  • USDA Weekly Export Sales at 7:30am 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.

www.waterstreet.org 
or 1-866-249-2528