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Karl Setzer Grain Commentary

Morning Comments; Wednesday, October 17th, 2019

Corn is steady to higher and Beans are steady to lower on the overnights.

Nearly 20,000 pigs have been culled due to a suspected case of African Swine Fever on a farm affiliated with one of China’s top feed producers. The farm is the largest one so far to report having the disease and three new cases of the disease in the same province were announced. More than 30 separate outbreaks of the disease have been reported in China since early August.

Congress was officially notified by the Trump administration that trade negotiations will start with Japan, the European Union and the U.K. within the next 3 months. The notifications is a procedural step under the U.S. trade law that is required 90 days before the U.S. enters into negotiations with other countries. Talks can’t be engaged before the 3 month window is over & consulting with Congress, to assure objectives laid out by the law are being fulfilled. Talks with the U.K. are planned to start after they exit the European Union on March 29, 2019.

Weather continues to be a market concern. Long term weather forecast through much of the Corn Belt is favorable through the end of October, helping with harvest delays.

Market Movers: Weather, Yield Expectations, Trade Negotiations

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