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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Market Trends Commentary for January-February 2019

US and World

It is an unusual mid January for many reasons across the grain complex. One of the main reasons it’s unusual is because there was no final USDA report, which was scheduled for January 11th because of the US government shutdown. Often times the January report serves as a flashpoint for market action putting the final numbers on the previous year’s crop. This year, with the USDA report canceled or postponed all of this drama has been muted. The grain futures market simply forges ahead based on information known and unknown.

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Market Trends Commentary for December 2018 – January 2019

US and World

December is a time where the crop is mostly in the bin. However, across both the US, Ontario and Quebec this year has been quite a challenge. As of November 25th, USDA estimates that 94% of US corn and soybeans have been harvested. Harvest rain and snow have been a challenge this year and it continues. As we move toward January, farmers will start to look forward to the new crop year and all its inherent challenges. The January 11th 2019 USDA “Final” crop report looms ahead and generally puts a stamp on the old crop year.

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