Sorry no report was sent out on Friday due to Technical Issues. Monday, January 21, 2019, 7:25 a.m. – Friday was a mostly positive day for our markets. Spot corn closed up 1 3/4, spot soybeans were up 9, spot winter wheat closed unchanged and spot spring wheat closed up 2 1/4. There was no overnight trading as the markets are closed today for the Martin Luther King Holiday in the US. Trading will resume tonight. Oil closed up $1.72 on Friday at $53.80 per barrel. It is down just a bit this morning with it now trading at $53.70 per barrel. Our dollar traded very choppy in a narrow trading range on Friday. It had a low of $0.753 US and a high of $0.755 US before closing out the day right in the middle at $0.754 US. This morning it is lower as the US dollar is gaining strength versus most other major currencies. Our dollar is currently valued at $0.752 US. Lots of rumours at the end of last week about the possible trade deal between China and the US. One big rumour was that China had agreed to substantially increase imports from the US and possibly decrease some exports to the US with the net result that the trade deficit between the two countries would be eliminated. If you believe that rumour why isn’t the trade deal already completed? There were rumours that China is purchasing soybeans, corn and possibly wheat in the spot market from the US. Of course with the government shutdown this cannot be confirmed. The one hard fact that we know is that they will be getting together once more this month to try to negotiate a settlement. Let’s hope for the best. The wheat market was stronger at the end of the last week. US wheat is currently reported as less expensive than Russian wheat on the world market. The only difference will be shipping costs to different destinations. There are rumours that a major exporter out of the US has been purchasing wheat for a sale to Egypt. Once again this is only a rumour with the lack of hard numbers being presented with the partial government shutdown in the US. Please call Geoffrey Guy at 613-880-2707or Bob Orr at613-720-1271 if you would like any direct ship pricing. Prices quoted herein are for product at our elevator.
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