Grain News: January 10, 2019 – Day 20 of Government Shutdown
We are entering day 20 of the government shutdown. This has proven to influence the farming community. As the deadline for the farm aid payments is quickly coming up some growers have not been able to get in to their FSA offices yet. Luckily, he USDA has said they will be extending the deadline. Another effect that the government shut down has had on farmers is the Grain Stocks Report. That report along with the WASDE report are due to come out tomorrow, however that doesn’t sound like that will happen. Since reports have not been released there are not final calculations of 2018 harvest which leave the markets in limbo. A benefit of the reports being pushed back is you still have time to get in your open offers in case the markets do jump.
Corn market is predicted to be a steady mix over the next few days. Ethanol production is still on the downward trend as fuel prices are lower than usual.
Soybean market is down but in hindsight the Argentina and Brazil have backed their estimated yields way down due to the drought they are still experiencing.
Wheat market is also down. There have been significant purchases through Russia and it is predicted that they will not be able to keep up the pace. That will hopefully bump up our wheat market in the Midwest.
Although there is not much certainty of what the futures hold, it is still a great time to market some grain. Now is the season for ordering your seed and inputs for next year. You can reduce your risk by selling the amount of grain that will balance your agronomy expenditures.