Opening calls are mixed to slightly higher as some traders return from the holiday break. Most of the global markets will remain closed which will limit volume in the ag sector. Optimism over the China trade deal and a winter storm that is set to hit the Dakotas and northern Minnesota this weekend into early next week will add some support to the trade. Snowfall of 8-16 inches is expected from Central Nebraska to northern Minnesota and eastern North Dakota. This storm will be very similar to the one that hit this area in October.
Favorable South American weather is in the forecast with moderate rainfall for Brazil over the next 6-10 days and rainfall finishing by Tuesday in Argentina then turning drier over the next 6-10 days.
Today’s light volume could create swings in the market giving traders and producers an opportunity to cash in ahead of the New Year.
Have a Safe Day!