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Other Commentary

EOD Ag Market Recap 4/18 for Apr 18, 2019
This market commentary is for informational purposes only. The views and opinions offered in the report are solely those of Bunge Limited and its subsidiaries ("Bunge"). Bunge is not a futures broker and this is not an offer to buy or sell any commodity or futures contract. The information contained in this commentary has been obtained from sources believed to be reliable but is not necessarily all-inclusive and is not guaranteed as to its accuracy. Persons acting on any information contained in this commentary are responsible for their own actions.
Good evening,

May corn finished up ¼ of a cent, beans up 1.5 cents, and wheat down 2.75. Generally benign session today going into a long weekend. More pork exports were reported to China which might end up being a timely add in to a trade deal solving the issues of lowering trade deficit and stabilizing the price of pork. The WTO ruled in favor to the US vs China in a complaint against the Chinese use of Tariff Rate Quotas. One would assume this is helpful to the US hand when it comes to the trade agreement. But, its not really the time for assumptions…

Market is still anxious for the outcome of the trade war and funds are still grinding their short position axe. Big crops down south (are getting bigger) with the US farmer not far from planting are making supply forecasts look massive.

Rain in the forecast keeping ground wet and field work minimal. Market will continue to build risk premium until forecast dries out for several days. Think the wet weather will have to persist few more weeks to make funds get out of the short positions. Or a trade deal. 

Additional Commentaries:

Wheat Commentary

No daily commentary available

Other Commentary

Good evening, May corn finished up ¼ of a cent, beans up 1.5 cents, and wheat down 2.75. Generally benign session today going into a long weekend. More pork exports were reported to China which might end up being a timely add in to a trade deal solving the issues of lowering trade deficit and stabilizing the price of pork. The WTO ruled in favor to the US vs China in a complaint against the Chinese use of Tariff Rate Quotas. One would assume this is helpful to the US hand when it comes to the trade agreement. But, its not really the time for assumptions… Market is still anxious for the outcome of the trade war and funds are still grinding their short position axe. Big crops down south (are getting bigger) with the US farmer not far from planting are making supply forecasts look massive. Rain in the forecast keeping ground wet and field work minimal. Market will continue to build risk premium until forecast dries out for several days. Think the wet weather will have to persist few more weeks to make funds get out of the short positions. Or a trade deal.