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Morning Outlook


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Overnight Highlights

  • Overnight grain markets: Corn – ½, Soybeans +1 ¼, Wheat -4 ¾, Crude +.06, Gold +12.30, Dollar -.11, Dow futures -120.
  • Dollar is trading at four month highs, led by first quarter inflation rising by 2% to the highest level since 2008.
  • World weather concerns include: Australia during winter wheat planting; U.S. HRW areas are dry; Black Sea Region well behind on moisture coupled with record heat; Argentina now dealing with excessive rains; Brazilian safrinha corn experiencing dryness in Parana (33% of growing area).
  • Kansas Wheat Tour Day Two: SW Kansas is estimated to have a yield of 35.2 bpa compared to 46.9 last year and 39.7 average.
  • Wednesday funds sold 6,000 corn, 9,000 soybeans, 5,000 wheat, 5,000 meal. Bought 4,000 oil.
  • USDA Weekly Export Sales Report 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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