January 2, 2020 Commentary by Ashton

Good morning! Happy New Year! Corn and soybeans are expected to open slightly lower while wheat futures are mixed.  

Trade war updates are pretty well non-existent this morning as much of the U.S. government is on vacation yet, last we heard President Trump plans to sign the Phase 1 deal with high level Chinese reps on Jan 15th at the White House. A Tweet could change things quickly.

China changed customs regulations on imports of soybeans through some northern border checkpoints, this would ease the path of soybeans into China from Russian, Kazakhstan, and perhaps Ukraine.

Have a great and safe day!

Mar/May spread: 
Corn: 7 carry.
Jan/Mar spread:
Soybeans: 12 ½ carry.  

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