1/23/19 8:05am FREE PRICE LATER IS AVAILABLE AT SIOUXLAND ENERGY
Corn market is firmer this morning following wheat and firmer cash values. Interesting to note open interest in corn jumped over 16,000 contracts yesterday, mostly in the May and Jly contract. Keeping gains in check is Taiwan booked 65k tons of corn for April shipment from Argentina at +140N landed.
The USDA announced it would re-open all its Farm Service Agency offices so farmers can process farm loans and tax documents. Weekly EIA report is out this morning and should reflect slowing grind rates.
Trying to keep track of the rumors between China and the U.S. is like wining the lottery. Good luck. Yesterday it was report by the Financial Times that the U.S. turned down an offer for preparatory talks with China leading up to the next higher level negotiations at the end of this month. Later, White House adviser Larry Kudlow denied the Financial Times report. Three days in a row we have faced rumors that effect the commodities sector.
The meeting between negotiators is still on for next week, but questions remain on just how close to a deal the two sides are. South American weather continues to be monitored by traders right now with dryness in Brazil expanding.
Dow futures 85 points higher at 24,475. Crude oil trading $040 higher at $53.41. US $ Index near unchanged.
Winter storm pulling through Iowa yesterday kept a lot of trucks parked. Particularly in the central and eastern part of the state.
