Farmers will watch to see what the market will do during the open Friday morning.
Chris Robinson with TJM Institutional Services, LLC will be watching too.
“Historically, that January report can be pretty volatile,” says Robinson. “Plus, you still have to talk about the bushels still in the field.”
Robinson says he’s going to look at the stock numbers in the next USDA report. However, he says he is looking at factors outside of the report such as weather.
“The number one thing we have to watch and see is what happens to the weather in South America,” says Robinson.
He says the other factor is if the U.S. receives more demand.
“The story out there floating around is that the Chinese may start taking more ethanol from us,” says Robinson. “If that happens, that will be a positive for demand.”
Click the link to watch his analysis with Clinton Griffiths.