Market Trends Commentary for February-March 2019

US and World

It has been a long winter for farmers as well as the USDA. Typically, this time of year farmers are busy making plans for the spring season. That continues, but with the government shutdown now over in the United States we lost one of the most important USDA reports, which come usually in the first two weeks of January. The January report always gives us a “final” estimate of the previous crop year is often a flashpoint in markets. When the shutdown ended, it was announced that USDA would release these crop numbers on February 8th. In the vacuum, many observers were fascinated how the market simply trudged on without its addiction on an annual basis to those January USDA numbers.

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