Morning Comments; Wednesday, January 23rd, 2019
MaxYield Cooperative - SETZ - Wed Jan 23, 5:34AM CST

Grains are trading higher on the overnight session.

Grain markets continue to grind sideways as the government shut down has past 32 days. Tensions over two key issues with the China trade negotiations has progress stalled on that front also. The government shutdown has gone on long enough now the February supply and demand report is probably not going to happen on schedule. It’s speculated the January report with the final 2018 yield number might replace the potentially delayed February S&D report.

The USDA will reopen all offices beginning January 24 and provide the majority of services. The USDA has recalled 9700 employees back to work for the first two-week period of the operating plan and offices will be open Monday through Friday. After February 8th, if the government shutdown has not been resolved, offices will be open, Tuesday through Thursday. The Market Facilitation Program deadline has been extended to February 14th. Producers can check the USDA’s website about procedures during the shutdown at www.fsa.usda.gov/help/shutdowninfo.

Market movers: Continued reaction to Chinese trade negotiations and weather forecasts.

For more information, you may contact Adam Suntken at (712)-454-1061, or e-mail at asuntken@maxyieldcooperative.com. The opinions and views expressed in this commentary are solely those of Adam Suntken. Data used in writing this commentary obtained from various sources believed to be accurate. This commentary is intended for informational purposes only and is not intended for developing specific commodity trading strategies. Any and all risk involved with commodity trading should be determined before establishing a futures position. Please visit our Risk Disclosure Page for more information on commodity trading.




 

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Karl Setzer Grain Commentary