The markets continue to wait on fresh news. To break out of current trading ranges, there needs to be better confirmation from the U.S. and China trade talks. That’s according to Stewart-Peterson Senior Market Advisor Naomi Blohm. “In the short terms, prices will likely continue to go to the low end of support levels.” Blohm goes on to say the government shutdown is also limiting pricing opportunities. However, one bright spot is basis improvement throughout some of the Midwest. “Farmers have what crop they want in the bin,” says Blohm. “So, the end users have to pick up the pace. They have to try and get more attractive prices so farmers will deliver that grain.”
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.