Daily US grain report: traders await US-China trade agreement details this week

US grain futures were mixed in early US pre-market trading.
calendar icon 14 January 2020
clock icon 7 minute read

Weather in South American corn and soybean regions is mostly benign at present, but some dry pockets are likely to develop in the coming weeks.

Prices still in a trading range bound by the January high of $3.92 and the January low of $3.76 1/2. However, bulls now have some momentum to possibly push prices above the trading range
Prices still in a trading range bound by the January high of $3.92 and the January low of $3.76 1/2. However, bulls now have some momentum to possibly push prices above the trading range

© Jim Wyckoff

Prices still in a trading range bound by the January high of $3.92 and the January low of $3.76 1/2. However, bulls now have some momentum to possibly push prices above the trading range
Prices still in a trading range bound by the January high of $3.92 and the January low of $3.76 1/2. However, bulls now have some momentum to possibly push prices above the trading range

© Jim Wyckoff

It appears the grain markets have factored into their futures prices the positive impact of the US-China partial trade deal - at least for now. Any positive surprises on specifics for China’s purchases of US ag products this week would likely lift the grain futures markets.

Look for choppy and sideways trading in the near term between the January high of $9.61 and the January low of $9.35 1/2
Look for choppy and sideways trading in the near term between the January high of $9.61 and the January low of $9.35 1/2

© Jim Wyckoff

Look for choppy and sideways trading in the near term between the January high of $9.61 and the January low of $9.35 1/2
Look for choppy and sideways trading in the near term between the January high of $9.61 and the January low of $9.35 1/2

© Jim Wyckoff

Weather in South American corn and soybean regions is mostly benign at present, but some dry pockets are likely to develop in the coming weeks.

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