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Morning Outlook

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Overnight Highlights

  • Overnight grain markets: Corn -4 ¾, Soybeans -10 ¼, Wheat -7 ¾, Crude +.23, Gold +14.20, Dollar -.26 Dow futures +37.
  • Buenos Aires Grain Exchange weekly update: corn crop 32 MMT vs 34 MMT previous; soybean crop 39.5 MMT vs 42 MMT previous.
  • Informa acreage estimates: corn 88.9 million acres vs 89.18 previous and 90.2 last year; soybeans 91.5 vs 91.2 previous and 90.1 last year; all wheat 46.1 vs 46.0 last year.
  • Cattle on Feed Report today at 2pm, estimates include: On Feed 108.2%, Placements 104.2%, and Marketings 101.2%.
  • USDA Weekly Export Sales report will be released today after yesterday’s delay.
  • Thursday funds bought 3,000 corn, 2,000 wheat, 4,000 meal. Sold 2,000 soybeans, 4,000 oil.

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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