- Grains Report 01/18/19
DJ U.S. Weighs Lifting China Tariffs to Hasten Trade Deal, Calm Markets By Bob Davis in Washington and Lingling Wei in Beijing U.S. [...]
- U.S. – China Trade Talks Moving. The Corn & Ethanol Report 01/18/19
It all hangs in the balance, is it possible that Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer can lift some or all...
- Did You Ever See A Dow Jones?
Today, the Dow is off to the best start since 1987. Ugh!
Futures Market News and Commentary
Corn futures saw most contracts steady to 2 cents higher on Friday. March futures were up 0.93% on the week that saw a couple sizable swings. Higher ethanol prices supported the market on Friday. The government shutdown is now in day 28, as the CFTC Commitment of Traders report will not be release until funding is restored. The markets will be closed on Monday for Martin Luther King Jr. Day. Brazil’s first corn crop harvest is estimated at 1% complete according to AgRural.Mar 19 Corn closed at $3.81 3/4, up 1 3/4 cents,May 19 Corn closed at $3.90, up 2 cents,Jul 19 Corn closed at $3.97 1/4, up 1 3/4 centsSep 19 Corn closed at $3.99 3/4, up 1 1/4 cents--provided by Brugler Marketing & Management
Soybean futures posted 8 to 9 cent gains in most nearby contracts on Friday, with March 0.71% higher this week. Soymeal futures were up $2.90/ton, with soy oil 24 points higher. Several Trade War rumors helped to support the market later in the week. We regard these as trial balloons for the next negotiating round at the end of the month. The markets will re-open on Monday evening for the normal overnight trade. AgRural estimates that the Brazilian soybean harvest is 6.1% complete, compared to the average at 1.2%.Mar 19 Soybeans closed at $9.16 3/4, up 9 cents,May 19 Soybeans closed at $9.30, up 9 cents,Jul 19 Soybeans closed at $9.42 1/2, up 8 1/2 cents,Sep 19 Soybeans closed at $9.49, up 8 cents,Mar 19 Soybean Meal closed at $315.10, up $2.90,Mar 19 Soybean Oil closed at $29.01, up $0.24--provided by Brugler Marketing & Management
Wheat futures ended the Friday session with most contracts steady to 2 1/4 cents higher. A higher dollar limited those gains with some follow through from buying on Thursday. Nearby CBT was down 1 3/4 cents this week, with KC up 1 1/2 and MPLS 0.75% higher. There is also a little talk about potential winter kill on winter wheat, but percentage of the crop with snow cover and the actual low temps observed on bare fields will be the determinants. The Philippines reportedly purchased 85,000 MT of wheat in tenders this week.Mar 19 CBOT Wheat closed at $5.17 3/4, unch,Mar 19 KCBT Wheat closed at $5.06, up 2 cents,Mar 19 MGEX Wheat closed at $5.74 1/4, up 2 1/4 cents--provided by Brugler Marketing & Management