Stateline Afternoon Comments December 6, 2019
December 6th N. Burt closing bid: $3.44
Corn prices drifted lower on during the weekly close $0.045 lower.
Daily Closes: March at $3.76 ¾, unchanged, July at $3.8675, down ¼ cent, September at $3.8675, up
The Average trade estimate for US ending stocks is at 1.919 billion bushels (1.890-1.960). This compares to 1.910 billion bushels in November
December 6th closing bid: $8.14
Soybean futures found support all day on Friday and were up $0.13 for the week.
Daily Closes: January at $8.895, up 0.0525 cents, March at $9.0375, up 5 cents, November at $9.375, up 0.045 cents.
China announced overnight that it was exempting itself from its self-imposed tariffs on pork and soybeans from the U.S. as part of its goodwill gesture. The Trump administration answered by saying “we are close to an agreement” “the December 15 tariffs will go into effect on their prescribed date if no agreement has been reached that Trump is willing to sign today”.