As the government re-opens after the partial shutdown, traders are getting more data to trade on. E-Hedger market analyst Jeff French expects a quiet trade until the USDA reports are released February 8. “The USDA confirmed they will release the final production report as well as winter wheat seedlings and quarterly stocks. That’s the report on January 11 we missed,” says French. “There’s a lot of uncertainty in the market and the market participants don’t know all the information. This will keep a lot of the speculators on the sidelines.” French says we could see some volatile swings once those reports are released. “If you look at a chart, we’ve been in these tight trading ranges for the last couple of months. In my opinion, we’re coiling in the spring and hopefully that spring bounces higher.”
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