Let’s just assume “low volume” until further notice in night sessions until further notice. Under 6K on lead corn and soybeans overnight. At 0600 CH19 giving up a ½ cent at $3.80 ¾ with SH10 up 3 cents at $9.24.
Dow futures off 27 this morning at 24,942 but ending the best January performance on record. Federal Reserve on Wednesday signaled its three-year drive to tighten monetary policy may be at an end.
US and Chinese trade officials meeting again today. Little news so far.
African Swine Fever now “Officially” reported in 24 provinces in China. Near 1 million head have been culled?
SNSX trading at 12 ¼ this morning and continues to largely mirror flat price action. To this point a bet on the spread is a bet on flat price. Picture of that relationship will follow.
Trade groups putting pressure on CFTC to step up timing on release of COT data. Hopeful this can be accomplished.
As cold as it has been in the US the past week it was equally as hot in Australia making trade question this year’s wheat crop potential?
Corn basis improving on limited movement country movement and strong demand. Pushed bids squeezing more carry out and into levels sales are attractive and being made. First time all year we are seeing trades into and through May.
Continued dry weather in central and northeastern areas of Brazil remain problematic for developing crops. Rains in southern RGDS overnight. (Where few if any beans are grown)
Series of producer meetings continues and will be out of the office most of today and tomorrow.
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