Happy New Year!
New year, new opportunity. USDA released their calendar for the 2020 report schedule. The first major report will be January 10. Information included in the report will be “final” production, exports, and domestic usage. The Phase 1 deal is said to be signed January 15. Hopefully both events bring new opportunities to our markets. Although folks are hoping for stronger markets, there should also be a focus on our current market. We have seen higher numbers in corn, beans, and wheat for Fall 2020 than we have seen in quite a while. Therefore, it might be a great chance to start locking in fall delivery prices.
- Corn price is up 3 predicted to be steady
- Soybean price is still up 2 but down from the high, also predicted to be steady or better
- Wheat price is up 3 but also down from the high, predicted to continue high
Aside from the market news today is the anniversary of the OTA broadcast. Again, we can thank a farmer: