The markets on Friday were full of rumors about China’s intentions to purchase US beans, and possibly corn, wheat and ethanol. The early strength the faded towards the close with no confirmation. Traders will wait to see if the USDA puts out any notices of those sales today. We are expecting no new business with China this week as they are observing their lunar holiday.
The USDA will release the regular February Supply and Demand report this Friday along with the delayed January reports, including the December quarterly stocks report, winter wheat planting intentions and final corn/bean production yield estimates.
I would advise producers to make sales and get firm offers in before this Fridays report as we could see volatile trade in either direction upon the release of Fridays data.
Have a Safe Day!