Morning Comments January 23, 2019

Overnight trade:

Corn 2-3 higher

Soybeans 3-4 higher

 

Yesterday it was reported that all FSA offices will be back to full staff on Jan 24th.  Sign-up for the Market Facilitation Program deadline is now February 14th.

 

Grains are getting support from soybean export inspections this morning. They are at an 8 week high. One third of that total came from China.

 

With the government still shutdown, it is now being talked about that the February USDA report is going to get delayed.

 

Trade is watching South American weather and early harvested yield reports.  Also more rumors that China will be buying wheat from the U.S.