Home Market Market Watch Morning Update

Morning Update

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Overnight Highlights

  • Overnight markets have corn +1, soybeans +2, wheat even, crude oil -.50, dollar even, gold -20.0 and the Dow +44.
  • Grains generally supported overnight along with higher energy markets. 
  • Weekly corn sales will be out this morning.
  • Egypt announced that it would allow its currency to freely float, leading to more than 50% devaluation of their currency. World wheat prices have not yet had much reaction.
  • Informa will be releasing their USDA crop production estimates later this morning.
  • A sustained break in grains is unlikely with underlying demand, but significant strength unlikely until the November USDA report is on the books.

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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