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Morning Outlook

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Overnight Highlights

  • Overnight grain markets: Corn +1 ¼, Soybeans -4 ¾, Wheat +2, Crude -.33, Gold -3.20, Dollar +.33, Dow futures -15.
  • Dollar is trading into new highs this morning.
  • French Agrimer upped soft wheat exports within Europe to a 12-year high, driven by demand due to Spain’s drought.
  • India’s government reported 2017/18 wheat production up to 98.6 MMT vs 97.1 prior.
  • Taiwan purchased 83K MT of U.S. milling wheat off the PNW for July/August.
  • Tuesday funds bought 13,000 corn, 3,000 wheat. Sold 2,000 soybeans, 3,000 meal, 2,000 oil.
  • EIA Ethanol Weekly 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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