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Morning Outlook

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Overnight Highlights

  • Overnight grain markets: Corn +2, Soybeans + ¾, Wheat +4 ¾, Crude +1.01, Gold +3.60, Dollar +.03, Dow futures +81.
  • Trading was mixed overnight on low volume. Investors are looking for more clarity regarding weather and President Trump’s trade policies.
  • Egypt’s Government Budget is calling for 7 MMT of all origin wheat.
  • Russia is exceeding wheat export estimates, as they are on track to ship 39-39.5 MMT. Leading into this year, many did not think it would be possible for them to export over 30 MMT.
  • Tuesday funds sold 9,000 corn, 2,000 oil. Bought 5,000 soybeans, 4,000 wheat, 4,000 meal.
  • EIA Ethanol weekly data to be released this morning.

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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