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Morning Outlook

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Overnight Highlights

  • Overnight grain markets: Corn + ¾, Soybeans -2 ¾, Wheat +3 ½, Crude -.24, Gold +1.70, Dollar +.36, Dow futures -74.
  • Buenos Aires Grain Exchange Weekly Update: corn crop 32 MMT vs 32 MMT last week with 31% harvested; soybean crop 38 MMT vs 38 MMT last week, with 54% harvested.
  • USDA attache to Russia predicts the 2018/19 wheat crop will be down to 74 MMT from 85 MMT in 2017/18.
  • Stats Canada 2018 planted acres: all wheat 23.0 vs 22.4 last year; canola 23.7 vs 23.0 last year.
  • U.S. Wheat Crop Quality Tour next week.
  • Thursday funds sold 4,000 corn, 5,000 wheat. Bought 4,000 meal, 3,000 oil. Even soybeans.

Commodity Weather Group Forecast

 

 

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