Good Morning,
Stronger markets this morning with corn up 3 and soybeans up 10.
The Trump Administration offered a $916 billion dollar stimulus pact to potentially be settled by year end. Pelosi and Schumer said in a joint statement that it marked progress because it brought McConnell closer to the $908 billion framework unveiled last week by the group of Democrats and Republican lawmakers. But they said its omission of supplementary jobless benefits was unacceptable and backed the continuing bipartisan effort at crafting a compromise. The plan differs from the alternative that Pelosi and Schumer endorsed as a basis for fresh talks. It includes $600 stimulus payments to individuals, which could win support from both Democrats and Republicans, but it pays for that part by cutting the bipartisan proposal for $300 a week in supplemental unemployment aid.
No different than any other time there continue to be rumors of Chinese cancelations and rumors that China is looking for a whole host of ag and energy to purchase into year end. Ethanol and US meats look to be big potential purchases. Until the sales are made and the ships unloaded on their docs its all up in the air.
Tomorrow the USDA will release its December S&D report at 11am. Ending stocks for corn and soybeans are expected to drop slightly.
Have a Safe Day!
Garry Gard
920-348-6844
