October 31, 2019
Happy Halloween, Merry Christmas,
Not sure what we should call today with the snow flying like its December 30th. The markets are weaker this am with corn down 5 and soybeans down 4. A lot of the pressure is coming from news that Chile has cancelled the APEC meeting that was supposed to take place in November. This is the meeting where Chinese president Xi and US President Trump were to sign a phase 1 agreement. Rumors this morning are that Chinese sources are suggesting a long term agreement with the US is doubtful unless Trump rolls back tariffs. The White House says that they still want to sign the agreement in November but an alternative meeting sight or date for the signing is still unknown.
Producers that have been in the fields and have grain dried in your bins should take advantage of these “non-harvest” days to move corn to town on any fall contracts you may have. This will keep you from battling harvest lines in the coming weeks when everyone is in the field and trying to move grain to town.
While it may seem bad right now, here is a reminder that it can always be worse! (North Dakota 3 weeks ago.)
Have a Safe Day!