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January 17, 2020 | Global Ag News Headlines

USDA Agency Reports

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Grains are mixed. SH is unchanged and near 9.23. CH is up 3 cents and near 3.79. WH is up 3 cents and near 5.68.  US stocks are higher.  US Dollar is higher. Crude is higher. Gold is higher.

CBOT grains will be closed Monday for holiday. 

For the week, Winter Wheat prices are up roughly 4 cents for Soft Red Winter, down 7 for the Hard Red Winter, and down 5 for Hard Red Spring; Corn was down 7 cents; Soybeans down 23; Soymeal down $3.00, and; Soyoil down 145 points; March crushing margins are up 2 cents at $1.02; March, oil-share is down 1% at 35%. 

The South American weather forecast for Brazil has rainfall favoring the Northern growing regions with less in the South. The Argentine weather forecast has rains midweek next week with things then turning dry for the rest of next week and into the weekend. 

The U.S. Labor Department's Bureau of Labor Statistics (BLS) on Thursday announced changes to economic data "lockup" procedures, which would result in the removal of computers from its Washington newsroom effective March 1 

U.S. President Donald Trump gained support among American farm families at the end of last year, Reuters/Ipsos poll data showed, as Trump touted a Phase 1 trade deal with key agricultural buyer China. The results show American farmers increasingly backed the Republican president as he sought to pause a drawn out trade war with Beijing that cut deeply into U.S. agricultural sales. 

For the week ended January 9th, U.S. All Wheat sales are running 9% ahead of a year ago, shipments up 20% with the USDA forecasting a 4% increase on the year. U.S. Corn sales are running 40% behind a year ago, shipments 51% behind with the USDA forecasting a 14% decline.. U.S. Soybean sales are running unchanged versus a year ago, shipments 30% ahead with the USDA forecasting a 2% increase on the year 

On Thursday, managed funds were net sellers of 6,000 contracts of SRW Wheat; net sellers of 40,000 Corn; sold 7,000 Soybeans; bought 3,000 lots of Soymeal, and; net sold 5,000 Soyoil. We estimate Managed Money net long 40,000 contracts of SRW Wheat; net short 116,000 Corn; net short 19,000 contracts of Soybeans; net short 26,000 lots of Soymeal and; net long 90,000 Soyoil.

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