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Morning Outlook

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Overnight Highlights

  • Overnight grain markets: Corn + ¾, Soybeans -1 ¾, Wheat +5 ¼, Crude -.35, Gold -2.40, Dollar +.24, Dow futures -95.
  • Virtually no rain fell over Argentina last night.
  • The CME is considering changes to corn and bean contracts in response to concerns voiced that contracts are not meeting up with cash during the respective delivery periods.
  • More than half of China’s pork is produced on family farms, but that will be changing over the next several years into larger operations that will be more efficient and more environmentally friendly.
  • Taiwan is in for 55K MT of corn from the U.S. and South Korea for 165K MT of optional origin.
  • Tuesday funds bought 18,000 corn, 14,000 soybeans, 7,000 wheat, 6,000 meal, 7,000 oil.
  • USDA Report tomorrow at 11am, Crop Production & Supply/Demand.

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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