Daily US grain report: world grain markets still focused on US-China trade agreement

US grain futures are mixed again in early US pre-market trading.
calendar icon 15 January 2020
clock icon 7 minute read

Grain traders will also examine Wednesday’s monthly National Oilseed Processors Association (NOPA) crush report. Forecasts call for members crushing 171.5 million bushels of US soybeans in December.

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. Bulls would gain power by pushing 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. Bulls would gain power by pushing 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. Bulls would gain power by pushing 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. Bulls would gain power by pushing prices above the trading range

© Jim Wyckoff

The US-China partial trade deal is expected to boost global economic growth in 2020. Still, don’t expect US-China trade and other political differences to just completely disappear after the signing today.

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

Grain traders will also examine Wednesday’s monthly National Oilseed Processors Association (NOPA) crush report. Forecasts call for members crushing 171.5 million bushels of US soybeans in December.

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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