Corn and cotton were mixed; soybeans and wheat were up for the week.
On Friday, President Trump announced that a temporary deal to end the partial government shutdown had been reached. The temporary measure would fund the federal government to February 15. While this is welcome news to those affected by the shutdown, a long term solution, and the certainty it would afford government agencies and citizens, remains undefined. From an agricultural stand point, resumption of USDA reports (Export Sales, WASDE, Grain Stocks etc.), the ability of FSA to process loans and guarantees, and the implementation of the 2018 Farm Bill will resume (perhaps temporarily). Uncertainty remains beyond the February 15 deadline so markets will continue to wait for additional information.
December 2019 corn futures continue to trade in a 10 cent range $3.95 to $4.05. Limited movement has occurred outside this range since late November. New information contained in the Grain Stocks and WASDE reports or progress in trade talks have the potential to jolt the market outside of this range in either direction. Until then markets will continue to move sideways. Continue reading at Tennessee Market Highlights.