Futures Close Report 10th January 2020

No significant surprises from the USDA on Friday – global corn (maize) and wheat markets all predicted slightly lower in supply than anticipated. Markets in the US remain bullish on soy as they await Phase 1 US / China trade deal signing.  U.S. Treasury Secretary, Steven Mnuchin indicated that  the deal reached on Dec. 13 still calls for China to buy $40 billion-$50 billion worth of U.S. agricultural products annually and a total of $200 billion of U.S. goods over two years.