Closing Comments: Thursday, January 31, 2019
MaxYield Cooperative - SETZ - Thu Jan 31, 1:53PM CST

Export sales released today were for the week of December 20th. Corn sales totaled 66.9 million bushels, which was down from the previous week’s figure by 11 million bushels but 28% higher than the previous 4 week average. Soybean sales were below their prior week’s total by 16 million bushels, totaling 87.9 million bushels, but a large 92% increase from their 4 week average. Wheat sales came in above the prior week but slightly below the 4 week average at 19.3 million bushels.

The report showing export date for the week of 12/27 will be next Thursday, and data for the week of January 3rd on February 14th. According to the USDA, a combined report for the weeks ending 1/10-2/14 will be released on February 22nd.

South America weather continues to look increasingly favorable for stabilizing the Brazilian and Argentina crops. Forecasts are calling for more rain showers next week in Brazil, but yield reports are still coming in light.

President Trump is meeting with the Chinese trade delegation today. In a tweet this morning President Trump stated no deal will be finalized until he and President Xi meet in the near future.

March corn closed 4 cents lower at $3.76 , March soybeans closed 5 cents lower at $9.15 , and March wheat closed cent lower at $5.16 .


Market Commentary provided by:

Karl Setzer Grain Commentary