The following commentary does not necessarily reflect the views of AgWeb or Farm Journal Media. The opinions expressed below are the author's own.
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The following commentary does not necessarily reflect the views of AgWeb or Farm Journal Media. The opinions expressed below are the author's own.
The FBN Team provides a macro-focused daily view of the world’s grain markets. Kevin McNew received a bachelor’s degree from Oklahoma State University and his master’s and Ph.D. degrees in Economics from North Carolina State University. He spent 10 years as a Professor of Economics with the University of Maryland and Montana State University focusing on commodity markets and is widely regarded for his ability to boil-down complex economic situations into easy-to-understand concepts for applied life.
Soybeans And Corn Tread Water As US-China Trade Talks Lack Substantial Progress
Following a trip to China two weeks ago by the American trade negotiation team, there has been little news regarding any positive progress being made regarding the Trade War between China and the US. It has been suspected that China has bought more cargoes of US origin soybeans but it has not been confirmed due to the government shutdown causing USDA export sales reporting to be postponed. Later this month, Chinese Vice Premier Liu He, who has been leading China’s trade negotiations, will travel to Washington DC for another round of talks. Last week, China stated that they would seek to eliminate its trade surplus with the United States by 2024, although the proposal does not seem to be taken seriously by markets.
China And Brazilian Chicken Exporters Reach A Deal To End Anti-Dumping Case
The Chinese Ministry of Commerce has agreed to a deal proposed by Brazilian chicken exporters to a resolve an anti-dumping probe initiated by China in August 2017. The new deal will set minimum prices for sales of chicken into China in order to avoid anti-dumping duties and will go into place on Feb 18. Brazilian chicken exporter BRF saw their shares rise by 1.8% to 24.49 reais on the news. The Brazilian meat organization ABPA has not yet seen the final decision by the Chinese Ministry of Commerce.
Winter Storms Cover Much Of The Midwest With Snow, More To Come
A winter storm pattern has covered much of the central United States, from E Colorado though to the Great Lakes region and beyond. Counties in N Illinois, E Iowa, and S Wisconsin are currently under winter storm warnings by the National Weather Service. Snow accumulations in these areas could total 8 inches and see a glaze of ice on top. Further to west, N Kansas and Nebraska are expecting about an inch of snow, followed by freezing rain that may make roads slick and travel hazardous.
The risk of trading futures, hedging, and speculating can be substantial. FBN BR LLC (NFA ID: 0508695)
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