It looks dull and unexciting once again. The only constant has been the slow and steady bullishness in Chicago wheat spreads and that may reach a crescendo as we approach first notice day against the March contracts on February 28. Please keep in mind that we are closed on President's Day on February 18.
Another partial government shutdown is looming and we've seen that the grain trade can survive and thrive in the absence of certain USDA elements. The next major report ins on March 31 when the stocks as of March 1 could be released. By that time we'll be focusing on weather in the northern hemisphere! We did not receive any extreme figures from the USDA on Friday. We are not expected to run out of corn, beans and/or low quality soft and hard winter wheat this crop year unless something drastic happens with the weather and plantings.
Hurry up and wait. Trade deals, monetary policy, social unrest around the world, volcanic activity, there's always something which keeps us watching and ready to pounce on opportunities.
The information contained on this site is the opinion of the writer and obtained from sources cited within the commentary. The impact on market prices due to seasonal or market cycles and current news events may already be reflected in current market prices.
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