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2:22 PM 2/8/2019

Market values are steady in front of the much anticipated release of data from USDA. Thursday values brought grains back to recent support levels. South American weather still looks to be improving with chances for more normal rain patterns to continue.  Argentina looks for more favorable conditions as well.

The market will be looking at today's USDA report for direction, with the focus on whether production is lowered on corn and beans enough to offset the declining demand structure. News out of the White House concerning tariff talks between China and the U.S. brought markets down on Thursday. There had been some optimism previously that an agreement between the two would be reached, but new talk of wide differences remain.

The long awaited USDA report finally came out and generated little enthusiasm from market traders.  No big surprises.

Jim Gallagher
Grain Division Merchandising Manager

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