Closing Comments; Tuesday, January 29th, 2019
MaxYield Cooperative - SETZ - Tue Jan 29, 1:29PM CST

Improving weather in Brazil has limited any gains in the markets with good rains in the far northwest growing region in the forecast. The 6 to 10 day forecast remains intact for close to average rainfalls through most of the growing regions in Brazil.

The markets are lacking fresh news as traders anxiously wait to see what develops from the trade talks scheduled for Wednesday and Thursday, this week, between the U.S. and China. Yesterday however, the U.S. government stated they would be pressing charges against the CFO of Huawei, the Chinese telecommunications company. The Chinese are viewing these charges as political in nature and could possibly hinder negotiations, according to some analysts. U.S. Treasury Secretary Steven Mnuchin states, “The U.S. expects significant progress despite complicated issues” during these talks.

March Corn closed down 2 cents at $3.77 . March Soybeans closed down 4 cents at $9.19. March Chicago Wheat was down 5 cents at $5.13 .

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.




 

Market Commentary provided by:

Karl Setzer Grain Commentary