Commodity Comments: 

4/15/19

A short week ahead, because of Holiday Trade, didn't leave us any surprises today.   

The continued talks between China and the US were a hot topic today.  According to a couple of reports, "The Chinese Trade deal is within 2 conference calls of being done."  I guess the market has been done this road before and won't jump to conclusions until after the ink has dried.  

The US is still having issues being competative in the world market.  South America potentially has a large corn crop looming, so it will be tough for the US to compete.   3% of the US corn crop is planted as of todays report, just shy of the average of 5%.  

The USDA announced a 140K sales to an unknown destination today.  Chinese imports, for the month of March, haven't been this low since 4 years ago.  Brazil is sitting at 88% harvested.  Beans out of the PNW are still about a 20 cent premium versus Brazil to China.  

Wheat was the only commodity that traded lower today.  No news definitely doesn't indicate good news in the wheat market.  Wheat conditions in Europe and the Ukraine look good as of now.  Spring wheat planted is sitting at 2% versus a 13% average.  Winter wheat conditions are 60% Good to Excellent. 

If you ever have any questions regarding the different types of contracts that JVG offers, please give us a call.  We have cash, futures fixed (HTA), Minimum Price, and Basis Fixed available.  Also, if you hear of different kinds of contracts that you may be interested, let us know.   

As always, Thank You for your business!

 

Tiffany Heier