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Morning Outlook

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Overnight Highlights

  • Overnight grain markets: Corn –2 ¾, Soybeans -5 ¾, Wheat -7 ½, Crude -.58, Gold -5.90, Dollar +.19, Dow futures -12.
  • Buenos Aires Grain Exchange weekly update: corn 32 MMT vs 32 MMT previous, with crop 30% harvested; soybeans 38 MMT vs 38 MMT previous, with crop 40% harvested.
  • USDA attaché in Ukraine is projecting a 2018/19 crop of 28.6 MMT vs 24 MMT last season.
  • China’s Ag Minister is predicting 2018 corn production to be up 1% over last year and soybean production up 2%.
  • Thursday funds sold 5,000 corn, 6,000 soybeans, 4,000 meal, 1,000 oil. Bought 2,000 wheat.
  • Cattle on Feed Report today at 2pm 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.

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