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Morning Outlook


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Overnight Highlights

  • Overnight grain markets: Corn – ½, Soybeans – ¼, Wheat -4 ¾, Crude +1.99, Gold -2.50, Dollar -.12, Dow futures +108.
  • The Dollar has been on a steep upward trajectory since the low on April 17th, into six month highs.
  • There is news of a deal brokered between Big Corn and Big Oil regarding ethanol, which will allow exported ethanol to generate RINS in exchange for allowing E-15 to be blended year around and a review of “hardship waivers” that have been granted to refineries by the EPA.
  • Tuesday funds bought 9,000 corn, 7,000 soybeans, 3,000 wheat, 3,000 meal. Sold 3,000 oil.
  • EIA Ethanol Report this morning.  
  • USDA Crop Production and USDA Supply/Demand Report Tomorrow at 11am 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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