Morning Quick Notes

Overnight
Grains seeing some weakness in the overnight session. Beans down 5 cents, corn down ½ cent, and wheat down 1 ½ cents.

Morning Headlines
Day 20 of the government shutdown. No export sales today. No WASDE report tomorrow.

China’s statement after the conclusion of trade talks lacked detail but did indicate that the two sides have “established a foundation” on key issues.

The USDA is extending the deadline to apply for farm aid payments. The original January 15 deadline will be extended by the number of business days that USDA offices are closed due to the government shutdown.

Ukraine's grain exports have risen to 24.1 million tons so far in the 2018/19 season, as of Jan. 9, from 21.2 million tons at the same time in the previous season, the agriculture ministry said.

Chart of the Day
Weekly total U.S. fuel ethanol production fell for the third straight week—the fourth drop in the last five weeks—to an even million barrels per day, though that was only slightly below 1.011 mln bpd last week and slightly above 996k bpd on the comparable week last year. That does take cumulative output since September 1 down to 1.031 mln bpd, 6k bpd below last year’s roughly four-month pace, with the USDA still looking for only looking for a very minimal year-over-year corn use for ethanol decline in 2018/19.