January 2, 2018
Producer Marketing Manager
No overnight markets due to the New Year’s Holiday. They will reopen this morning at 8:30.
CORN: opening calls are firmer on the open
Cold temps are grabbing most headlines this past week and effects on Nat Gas prices, logistics, etc. The Dollar dropped 400 points in the first day of trading in the new year and should lend some support to commodity prices this morning. Being the first day of the new year may bring on some commodity buying by the funds as well.
SOYBEANS: Called firmer
Argentina is expected to seem some storms the next 10 days but the more significant amounts will likely hold off until the Jan 8-12 time frame. Normal rainfall is likely for Brazil during the next two weeks.
WHEAT: Called firmer
Winter kill in the HRW areas will be discussed, but most market participants will emphasize that it’s way too early to determine losses at this point. Some argue that forecasters missed the temps by 10 degrees in HRW areas and the colder than expected temps will cause more damage than expected. Below 0 temps this morning extend to the Oklahoma border.