The January Supply and Demand report from the USDA will be extremely important for market direction. Van Ahn and Company market analyst Kristi Van Ahn says traders are expecting tighter carry-outs. “That crop report finalizes production numbers, we get quarterly grain stocks to see how usage is going and there’s lots of information. We’re at a 175 million bushel carryout, tight to begin with, but traders are expecting to see a smaller carryout than that.” This report is also very important for the corn market. “We’re at a carryout level on corn that’s smaller than we’ve seen in the past, but if it sticks, we don’t need to be higher than where we’re at. There are a lot of moving dynamics.”
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.