Corn is currently trading up three and Soybeans up six. Short covering is taking place today, after trade is seeing the effects on delays that last week’s snow storm caused. This afternoon USDA will release planting progress, with an estimate being that USDA will note 6% of the U.S. corn crop planted.
The Japanese are in Washington this week to talk trade with President Trump. Not much activity is expected as much of the U.S trade delegation is working on finishing up talks with China. With that being said, U.S. and China are close to agreeing on enforcement mechanisms of their trade deal, and closing on it entirely (So they say).
Please update offers on old crop and new crop, even with a flat market we need to be prepared if there is a small rally that could meet some price targets. Consider some new crop bids sitting around $3.80 January to close to $4.00 for Spring and Summer of 2020.
Have a Great Day!