Home Market Market Watch Morning Outlook

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



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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