Morning Comments January 2, 2020

Grain Podcast

Corn up 2 to 4

Beans up 3 to 5

Grain markets kicking off the 20’s with some pep. Ideal weather in South America and no new Chinese buying put downward pressure on the corn market on Tuesday. On the other side, China announced Tuesday they’ve approved a new strain of genetically-modified soybeans. This should help China meet its obligation to buy $40 billion in U.S. ag products. China also renewed permits for ten GMO crop varieties, including canola and corn.

Traders and producers alike seem to be enjoying the recent gains in the grain markets, while still keeping an eye on the USDA’s next WASDE report that will be out on January 10th.