Closing Comments: Monday, January 14, 2019
MaxYield Cooperative - SETZ - Mon Jan 14, 2:08PM CST

Rumors that China may have bought US DDGs pushed corn higher earlier today, but sympathy to the lower bean market has kept corn trading steady to slightly lower.

Weekly export inspections were good at 1.013 MMT for corn. Soybeans were a bit better this week at 1.085 MMT. The weekly Export Inspections Report is one of the few reports unaffected by the government shutdown now at a record 24 days.

Chinese trade data continues to disappoint. The bearish feelings on the Chinese economy are leading many to believe that Chinese imports will slow. Not to mention, US and China trade talks will not begin again for over 2 weeks that will take place in Washington DC.

Over the weekend rains fell across Northern Argentina and Southern Brazil. The forecast calls for more rain in those regions again this week, while the central and northern parts of Brazil are expected to stay dry.

March corn closed cent higher at $3.78 , March soybeans closed 6 cents lower at $9.03 , and March wheat closed 5 cents lower at $5.14 .




 

Market Commentary provided by:

Karl Setzer Grain Commentary