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Morning Outlook

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Overnight Highlights

  • Overnight grain markets: Corn – ¾, Soybeans +2 ¾, Wheat -5 ¾, Crude -.03, Gold -2.00, Dollar +.09, Dow futures +90.
  • Buenos Aires Grain Exchange weekly update: corn 32 MMT vs. 32 MMT previously, crop 25% harvested; soybeans 38 MMT vs 38 MMT previously, crop 24% harvested.
  • China’s March soybean imports are up 4.5% over February.
  • Russia’s IKAR upped their 2017/18 wheat export projection from 38.5 MMT to 39.5 MMT.
  • French Agrimer sees soft winter wheat 78% good/excellent, unchanged from last week.
  • Thursday funds bought 9,000 corn, 14,000 soybeans, 5,000 meal, 3,000 oil. Sold 5,000 wheat.  

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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