Factors still moving the markets include China as we move 7 days into that 30 day agreement. Not a lot of movement talked about to this point. Kind of leaves us on the fence & following technical. Wheat continues to trek higher until today-but why is it going higher. Current status of South American weather & crop progress. Livestock market…Chinese holiday-sickness…people moving through the country. ASF-is there concern with the week long holiday coming up for China?
China…they are scrapping their ethanol program & what does that mean? GCI China talks of lifting duties on DDG’s. Ethanol mandate by 2020, was never bought into. Due to weather, the USDA report delayed until Friday along with the WASDE report. Political talk making national news, is the current issues with Iran having any effect on the markets? ASF hits again in Bulgaria. Consolidation in the cattle as they wait for the cash to fully develop.
Last trading day of 2019. A look back & a look forward in both the grain & livestock. Some try for profits to wrap up the trading year, but a quiet final trading day for 2019. A signing date of January 15th with China. ASF will continue to be a story in 2020.
China & the status of the agreement & 50-billion-dollar trade talk. USMCA vote. Weather in South America. Timing of Chinese purchases…does it include ethanol? How much of the rally a rally vs. a money flow? Holiday feel set into the markets. Winter wheat concerns looking at some dryer weather. Cattle & hog fundamentals. Waiting for cash cattle. Is cattle weights a concern?