Closing Comments; Wednesday, February 27th, 2019

Electronic trading halted late Tuesday night due to a technical error at CME Group Inc, the world’s largest exchange operator. Trade halted around 6:40 pm Central Time and lasted for about three hours, preventing any trading of contracts involving U.S. Treasuries, stock-futures and commodities. Millions of contracts that track the S&P 500, Dow Jones Industrial Average and Nasdaq 100, that trade almost continuously throughout the day, were halted due to the error.

U.S Trade Representative Robert Lighthizer discussed how the trade talks with China were going with the House Ways and Means committee this morning. He stated President Trump is committed to protecting the American workers, farmers and ranchers, and economic system from the unfair trade practices of China. While also stating that progress has been made with China but it is too early to predict the outcome of the negotiations. One of the biggest areas being addressed during negotiations are the non-tariff trade barriers, Lighthizer is hopeful they made some headway. President Trump is insistent on an agreement that is enforceable, while also seeing changes in the pattern of practice in several areas. Optimism still surrounds the idea that an agreement will be reached but it will take time and consist of multiple agreements as they work through pressing issues.

March Corn closed down 2 cents at $3.63 . March Soybeans closed down cent at $9.03 . March Chicago Wheat was up cent at $4.61.

For more information, you may contact Kristi Guse at (712)-260-6486, or e-mail at kguse@maxyieldgrain.com. The opinions and views expressed in this commentary are solely those of Kristi Guse. Data used in writing this commentary obtained from various sources believed to be accurate. This commentary is intended for informational purposes only and is not intended for developing specific commodity trading strategies. Any and all risk involved with commodity trading should be determined before establishing a futures position. Please visit our Risk Disclosure Page for more information on commodity trading.




 

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