Weather is not the only thing that is unseasonable this week as we found out on Friday that the USDA will not be releasing its Crop Production report this coming Friday. The US government shutdown is entering its third week, with no end in sight. The USDA had delayed several major US and world reports because of the shutdown and has said they will set a new date for the Crop Production report once funding is restored. The lack of key data for traders has and will lead to a lot more speculative trading until we can confirm numbers.
The fundamental news that we have to trade for the time being is South American weather and US trade talks. Below normal rainfall and above normal temps are forecasted for Brazil over the next two weeks. Argentina on the other hand is wetter with heavy storms every 1-3 days over the next two weeks.
Chinese and US officials are meeting in Beijing this week for the first face to face talks since President Trump and President Xi Jinping agreed in December to a 90 day truce in the trade war.
Didion is currently offering a contract allowing you to sell cash corn for February 2019 delivery at $3.70 with a potential contract for December 2019 delivery at $4.00. Call for details.
Have a Safe Day!