Farm Progress

Market Update for Jan. 5, 2018

Ben Potter discusses factors impacting the market this week. (audio)

January 6, 2018

Corn, soybeans and wheat reported marketing year lows:

  •  4.0 million corn 

  •  4.8 million wheat 

  • 20.6 million soybean

  • and no large sales reported to USDA this week

It's been a weather market this week, with dry Argentine forecasts helping soybean prices, although they’re still more than 30 cents lower than they were, also due to South American weather factors (timely Brazil rains in December).  Wheat had been doing somewhat better over winterkill concerns in the Plains, but bad export data sunk some of those gains today.

Next week there are some updates to U.S. agricultural trade data on Monday and then on Friday, winter wheat seedings and season-average price data updates from USDA and WASDE is released.

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