Trade talks are expected to begin this morning in Washington as the traders remain hesitant to get too short or long until we know more about the outcome of the negotiations. With 4 weeks of trade data looming on the horizon we could see a lot of volatility in the coming week as reports start getting released by the USDA. Next Friday’s Crop Production report is the most anticipated by traders.
Producers are advised to lock in basis on any old crop sales you have left to make. With a large surplus of grain there is very little chance for basis to improve. Any move higher in the CBOT due to reports is only going to widen basis levels across the country as more grain moves.
Corn is currently down 2 and soybeans are down 5.
Reminder that Didion Grain receiving will be closed on Wednesday 1/30/19.
Get out of the cold on Thursday and Friday this week and come visit us at the Corn Soy Expo in Wisconsin Dells. https://cornsoyexpo.org/
Have a Safe Day!