Closing Comments; Monday, January 28th, 2019
MaxYield Cooperative - SETZ - Mon Jan 28, 1:38PM CST

African swine fever still remains a topic in the markets, with new cases being reported weekly. Estimates show that 1 million hogs have been culled so far and the expectation is the number will only increase. It’s believed that scientists are working on a vaccine but that could take up to 10 years before they have a working vaccine.

USDA’s chief economist, Robert Johansson, says the USDA will not issue the January WASDE report, instead the USDA will issue a February WASDE report that will include information that would have been in the January 11th WASDE report. The crop production and grain stocks that were scheduled for January 11th, are expected to be released on February 8th as well. Johansson also stated that the Outlook Forum will occur on February 21st and 22nd unless funding lapses before that date. It’s expected that by March all reports should be “back in sync” with the 2019 schedule.

Export Inspections for week ending January 24th came in lower for corn and soybeans compared to last week. Corn inspected for export came in around 35.2 million bushels, with a majority of inspections headed to Mexico and Japan and a smaller amount to China. Corn inspections for export were down almost 21% for the week prior but still ahead of the year-to-date pace compared to last year. Soybeans were at 34.2 million bushels, with China, Egypt, and Japan being the main destinations. This was down about 19% from the previous week.

March Corn closed down cent at $3.79 . March Soybeans closed down 2 cents at $9.23 . March Chicago Wheat was down 1 cents at $5.18 .

For more information, you may contact Kristi Guse at (712)-260-6486, or e-mail at kguse@maxyieldgrain.com. The opinions and views expressed in this commentary are solely those of Kristi Guse. 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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