Back and forth trade for our first full week of the year. The government shutdown continues to cause delays in information, and traders are looking everywhere they can for direction. We saw strength early on this week with positive feedback on the U.S./China talks, even though we continue to lack hard numbers to support the idea that we will see an increase in exports to China. On Thursday, concern about the realities of our trade talks and disappointment about CONAB’s production numbers for Brazil took away most of the gains we saw this week.
Without this week’s WASDE report, markets finished Friday’s trade in the green, though we were down for the week on both corn and beans. We did get some positive news this week from Secretary of Ag, Sonny Perdue, that the original signup deadline of January 15th for the Market Facilitation Payment would be extended to offset the number of business days the government is shutdown.
Looks like we could potentially see some weather early this weekend in our southern areas. Stay safe and use your best judgement if you are traveling!