Corn holding in there today after yesterday’s blood bath
Ethanol grind was up 5.19 mbu LW to 106.99 mbu while stocks rose just slightly
China’s agriculture ministry has said that they expect to use all of their OC corn stocks in 2019 leaving them with an estimated supply deficit of 26.5 million tons
Keep in mind that the Chinese government does not include their reserves in their data
Don’t panic and think that they are running out of corn
China just being China
Are they making these comments to entice their farmers to plant more corn?
Maybe even GMO corn?
Hence the article LW about them allowing certain GMO’s
If you figure China out let me know
Keep a close eye on the dryness in Brazil as they are harvesting beans and will be planting their Safina corn crop soon
Corn seems to have some resilience as of late and is just waiting for some bullish news
Beans with a bit of a dead cat bounce early in the session but that is waning now at midday.
The lack of positive market reaction to yesterday’s latest record monthly NOPA crush report underscores the theme as of late, where any mildly bullish surprise is meet with selling pressure as the market comes to terms with likely a billion bushel U.S. carryout
.
Wheat: KWH19 -0.75¢ MWH19 +1.75¢ · Wheat markets mixed to even today.
Spring wheat settled yesterday at $5.62 and has traded both sides since.
Winter wheat settled yesterday at $4.955 and also has traded both sides this session.
Trade is lack luster and a little off with the lack of USDA news.
Thursday will be a messy day in the southern Midwest, southeastern Plains and Delta, with rain and mixed precipitation. Meanwhile, the Far West and Northwest will have widespread rain and snow, with flooding and mudslides a notable threat in California. » More DTN Weather Commentary
On Oct. 29, 2015, the Positive Train Control Enforcement and Implementation Act of 2015 (PTCEI Act) was signed into law and extended the original statutory deadline for full implementation of PTC systems from Dec. 31, 2015, to Dec. 31, 2018.
