Feb 11 Morning Ag Commentary

by Steve Freed,

Grains are mixed to lower. SK is down 1 cent and near 9.27. CK is unchanged and near 3.81. WK is down 3 cents and near 5.16. US Dollar is higher. Crude and most commodities are lower.

U.S. negotiators are preparing to press China this week on longstanding demands that it reform how it treats American companies’ intellectual property in order to seal a trade deal that could prevent tariffs from rising on Chinese imports. China struck an upbeat note on Monday as trade talks resumed with the United States, but also expressed anger at a U.S. Navy mission through the disputed South China Sea, casting a shadow over the prospect for improved Beijing-Washington ties. The United States is expected to keep pressing China on longstanding demands that it reform how it treats American companies Intellectual property in order to seal a trade deal that could prevent tariffs from rising on Chinese imports.

The latest talks will begin with working level discussions from Monday-Wednesday before high-level discussions at the end of the week.

USDA final January US 2018 corn yields dropped from last year in MN,IA,MO and KS yield went up in ND,SD,NE, IL, IN and OH. Final 2018 soybean yields dropped from last year in MO and SE states. Yields sent up in most Midwest stares especially IL, OH and KS. 2019 US winter wheat acres are down especially in KS, OK and NE.

Range of private estimate of US 2018/19 corn carryout is 1,686 mil bu to 1,735 vs USDA 1,735. Range of est of US 2018/19 soybean carryout is 880-965 vs USDA 910. Range of est of US 2018/19 wheat carryout is 1,020-1,085 vs USDA 1,010.

Our weather expert could see above normal rains and normal to below temps across most of the US Midwest and south plains this spring. Summer weather could be mostly normal across the Midwest but could be drier and warmer than normal in parts of W IA, NE and south plains.

 

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2019-02-11T13:44:10+00:00 February 11th, 2019|