Lower grains in the trade. Big trade factors today include the FEDS Statement, Brexit & China tariff deadline. What will happen between now & Sunday with China & how will the markets
continue to watch. Brazilian weather for the most part is pretty good. Argentina has some heat, but showers are possible. Livestock ASF, getting reports of an uptick in breakouts in China-not official but being talked about on the ground.
Lower close headed into the holiday. Winter weather slows harvest once again & what are the implications. South American weather & crop update. Driest soybean in the past 4 decades but the crops look great. Trade talks, USMCA-8 days left on the schedule. If there is a will there is a way. China talks. Strong cash basis for corn & beans-some post-harvest feels. 124 million bushels of corn in NE…a lot more left as you head north. Exports tighten in Brazil. USDA put out a notice for export sales reporting of livestock. ASF.
Hong Kong, Bill in the Senate…how does that effect China Trade. Talks 3 b corn is still in the field, South American weather helping the crops. USDA to continue crop progress reports into the near future. Spread of ASF continues in China & beyond. The need for food to feed those in China
Are the talks with China falling apart. Media play game? USMCA seems positive. Ethanol production 7th week higher…stocks lower. Brazil tariff quota for wheat. China & U.S. Poultry, ASF…
Weather trying to help the last of the harvest…colder temperatures moving in will solidify fields. Lower corn & soybeans. Is the China Phase one being pushed off till December? Odds are stronger it will be completed in 2019. Friday WASDE report. Brazil to get good rains. Propane shortages? ASF-China has reopened the door to Canadian hogs & purchases from Europe-needing meat.
Higher corn, lower beans & wheat. Harvest delays, South America crop progress, the latest on China-as conference has been suspended. What is in the deal & what isn’t. Market is taking it in stride call us when its done. Private estimates on crop progress will come out on Friday. In holding a pattern. Fed statement-how does that effect the trade. ASF. Rally in the cattle market.