Grain News: January 17, 2019 – Small Gains
After seeing plenty of red on Tuesday, grain markets ended yesterday’s session on a small technical bounce as corn, soybean and wheat all picked up small gains. The continued concerns over the lack of progress concerning U.S. – China trade negotiations are keeping a low ceiling on the higher prices.
Amid the ongoing federal government shutdown, now mired in its unprecedented 26th day, USDA has recalled about 2,500 Farm Service Agency employees to reopen offices during normal business hours today, Jan. 17; Friday, Jan. 18 and Tuesday, Jan. 22. Staff members will be made available to provide several specific services for farmers.
Still unclear as to whether USDA statisticians and economists could be headed back to the lockup room to prepare key January reports the market has been waiting for. President Trump Tuesday night issued an order forcing some furloughed government employees back to work without pay while the government shutdown drags on.
Average daily ethanol production last week jumped to 1.051 million gallons per day, rebounding from the prior week’s tally of 1.000 million gallons per day and reaching the highest levels since early November. The current government shutdown is expected to delay the EPA’s rule allowing the year-round sales of higher ethanol blends in gasoline, but acting administrator Andrew Wheeler said during his confirmation hearing on Wednesday that the agency will likely have the rule in place in time for 2019’s summer driving season.
Your Landmark Grain Marketing Specialist have been working with producers on their 2019 grain marketing plan as of late. We are here to help all our producers with putting together a marketing plan catered to your operation. Give us a call!