Closing Comments; Monday, February 11th, 2019
MaxYield Cooperative - SETZ - Mon Feb 11, 1:38PM CST

Export Inspections for the week ending February 7th, were reported lower for both corn and soybeans compared to the prior week. Corn inspected for export came in around 29.2 million bushels, with Japan being the top destination. Although corn inspections have slowed down due to more competition, export inspections for corn are still ahead of the pace compared to last year. Soybean inspections were at 39 million bushels, with shipments heading to China and shipments leaving ports in the Gulf and Pacific Northwest. Wheat came in at 20.6 million bushels, with Japan, Mexico and Egypt being the leading destinations.

Trade talks are continuing this week between the U.S. and China in Beijing today, with cabinet-level talks beginning on Thursday. If an agreement isn’t reached by the deadline of March 1st, President Trump has said he’ll raise tariffs on $200 billion of Chinese goods from 10% to 25%. Originally, Trump stated he would meet with the Chinese President before the March deadline but the White House is now indicating that will probably not happen until after March 1st.

March Corn closed down 1 cents at $3.72 . March Soybeans closed down 9 cents at $9.05. March Chicago Wheat was up a penny 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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