Edwards Market Thoughts

2/21/19 8:00am                               FREE PRICE LATER IS AVAILABLE AT SIOUXLAND ENERGY

See saw markets continue on rumors and little facts to go on.  President Trump said trade talks with China were going well and suggested he was open to pushing off the deadline to complete negotiations, saying March 1 was not a "magical" date. "They are very complex talks. They're going very well," Trump told reporters. "I can't tell you exactly about timing, but the date is not a magical date. A lot of things can happen."

Trump said after the close yesterday that trade talks are progressing nicely and that China will be buying more U.S. corn than we can believe.  And along with that some positive news from China.  “China will rely on overseas purchases for supplies of the oilseed, even as it tries to revive domestic production, a top official said. "We will for sure trade soybeans in the international market," Han said, adding that the United States is an "important partner" in soybean trade, said Agriculture Minister Han Changfu.”  So we move forward and continue our long journey of waiting for the talks between China and the U.S. to come to an agreement.

USDA trade estimates forecast 2019 corn plantings at 91.512 million acres, corn yield at 177.1 bu./acre, corn production at 14.882 and corn ending stocks at 1.792 billion bushels, soybean plantings at 86.144 million acres, bean yield at 50.9 bu./acre, bean production at 4.320 and bean ending stocks at 0.893 billion bushels and wheat plantings at 47.196 million acres, wheat yield at 47.7 bu./acre, wheat production at 1.904 and wheat ending stocks at 0.960 billion bushels, ahead of the USDA's annual outlook forum on Feb. 21-22.

Ag Outlook Forum Numbers

  • 21-Feb-2019 07:17:06 AM - USDA PROJECTS 2019 U.S. CORN PLANTINGS AT 92.0 MLN ACRES VS 89.1 MLN IN 2018
  • 21-Feb-2019 07:17:23 AM - USDA PROJECTS 2019 U.S. SOYBEAN PLANTINGS AT 85.0 MLN ACRES VS 89.2 MLN IN 2018
  • 21-Feb-2019 07:17:37 AM - USDA PROJECTS 2019 U.S. WHEAT PLANTINGS AT 47.0 MLN ACRES VS 47.8 MLN IN 2018
  • 21-Feb-2019 07:17:58 AM - USDA PROJECTS 2019 U.S. ALL-COTTON PLANTINGS AT 14.3 MLN ACRES
  • 21-Feb-2019 07:18:11 AM - USDA PROJECTS 2019 U.S. RICE PLANTINGS AT 2.7 MLN ACRES
  • 21-Feb-2019 07:18:43 AM - USDA SEES AVERAGE U.S. WHEAT PRICE AT $5.20/BU IN 2019/20
  • 21-Feb-2019 07:18:54 AM - USDA SEES AVERAGE U.S. SOYBEAN PRICE AT $8.80/BU IN 2019/20
  • 21-Feb-2019 07:19:10 AM - USDA SEES AVERAGE U.S. CORN PRICE AT $3.65/BU IN 2019/20
  • 21-Feb-2019 07:19:43 AM - USDA FORECASTS U.S. 2019 BEEF PRODUCTION AT 27.6 BLN POUNDS, UP 2.7 PERCENT FROM 2018
  • 21-Feb-2019 07:20:04 AM - USDA SEES U.S. 2019 COMMERCIAL PORK PRODUCTION 27.3 BLN LBS, UP 3.8 PERCENT FROM 201

 At the morning break we have Corn up 6 cents and Soybeans trading 9 cents higher!!

 

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Siouxland Cash Bids
Name Delivery End Basis Cash Price Futures Price

View all cash prices...
Quotes retrieved on February 21, 2019, 11:38:55 AM CST
All grain prices are subject to change at any time.
Cash bids are based on 10-minute delayed futures prices, unless otherwise noted.
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Corn Receiving Alert

                                                                Free Price Later

Siouxland will be offering "Free Price Later" delivery starting Monday December 3rd! This room will be based on first come first serve, if space starts getting filled up we may need to slow deliveries. If you have any questions please give Tom E a call 722-3906.

 

Commentary
Cotton Market News and Commentary -

Cotton futures are trading 66 to 72 points higher this morning. They closed on Wednesday with most contracts steady to 14 points lower. The Cotlook

Soybean Market News and Commentary -

Soybean futures are trading 11 to 12 1/2 cents higher at the moment. They came back from 6-7 cent losses earlier on Wednesday to close with 1 to 2

Lean Hogs Market News and Commentary -

Lean Hog futures posted sharp losses in the nearby contracts yesterday, with April using the expanded limits. Some deferred contracts were slightly

Corn Market News and Commentary -

Corn futures are currently 5 to 7 1/2 cents higher after ending the Wednesday session with most contracts 1 to 2 1/2 cents higher. Strength in

Cattle Market News and Commentary -

Live cattle futures were 30 to 75 cents higher in most contracts on Wednesday. Feeder cattle futures were steady to 15 cents higher in the front

Wheat Market News and Commentary -

Wheat futures are mostly 5 to 11 cents in the green this morning. They saw another round of 6 to 10 3/4 cents losses on Wednesday, with most nearby

Full commentary...