Grains mixed in the overnight. Near the break, wheat is down 4 cents, corn is up ½ cent, and beans are up 5 cents.
U.S. government is still in partial shutdown. U.S. Dollar is lower. Crude is higher. U.S. stocks are higher.
United Prairie Ag will close at noon today; however, you may contact the grain department until 1 p.m. for any grain business needed, as markets will be open until then.
For the year, prices are down 16 cents for Hard Red Winter Wheat. Corn is down 17 cents, and soybeans down 95 cents.
Wire story reports the U.S.-China trade war resulted in billions of dollars of losses for both sides in 2018, hitting industries including autos, technology - and above all, agriculture.
U.S. President Donald Trump said on Twitter that he had a "long and very good call" with Chinese President Xi Jinping and that a possible trade deal between the United States and China was progressing well; "Just had a long and very good call with President Xi of China," Trump wrote on Saturday; "Deal is moving along very well; if made, it will be very comprehensive, covering all subjects, areas and points of dispute; Big progress being made!"
Trade will be watching trade relations between U.S. and Mexico. U.S. closing the border could stop corn, soybean, pork and beef exports to Mexico.
Chart of the Day
Today’s chart shows the average annual daily trading range of the big three spot CBOT grain contracts, in absolute terms (bars, left axis) and as a percentage of the daily mean price (lines, right axis). Corn volatility (as measured in these simple terms) fell for the seventh straight calendar year since record 2011 highs, with the percentage of price that number represents marking the lowest yet of this century. Spot soybean and wheat contract volatility rebounded YoY in 2018 both in absolute terms and percentage-wise.