Morning Headlines

Overnight
Grains seeing a little strength in the overnight with beans up 4 ½ cents, corn up 1 ½ cents, and wheat up 2 cents.

Morning Headlines
United Prairie Ag will be open today with business as normal.

In a sign that trade relations may be improving, and as a goodwill gesture, China has opened the door for the first time ever to imports of rice from the U. S.

Ukraine has exported 23.1 million tons of grain this marketing year, including 9 million tons of corn, up from 5.5 million tons the previous year.                 

Day seven of the partial government shutdown and it continues to affect news relating to commodities. Export sales and Commitment of Traders Reports will not be issued today because of the shutdown, which is continuing to affect commodities.

Chart of the Day
Today’s chart shows historical acreage for corn, beans, and wheat (left axis) along with the “big three” total (right axis) over the last 30+ years, with private analyst Informa’s current projections used for 2019. Informa is looking for only a small rise in corn plantings next year with around a 4 mln ac decline for soybeans compared to 2018; the USDA had initially expected more in their long-term outlook, but the “acreage-switching” pendulum has mostly swung the other way as of late with bean prices/ratios holding fairy steady.