Joe Camp

Grains set up for a mixed start while bids and offers stack up a little firmer for corn and weaker for soybeans. Price action will stay heavily dependent on the starting swings for equities, oil, metals, and the dollar. In the Headlines Bitcoin was selling off over the weekend to extend its 5-day loss to more than $10,000, to around $78,000. Observers are seeing a combination of selling by 'whales' holding the largest positions and by traders forced to liquidate for having too much leverage. Outflows from exchange-traded-funds were especially notable on Friday as financial markets were readjusting on news that President Trump had picked a nominee for central bank chair. Trump's Fed Chair nominee Kevin Warsh surprised the market because of Warsh's hawkish-leaning history covering his time as a Fed governor through the 2008 financial crisis. Part of the market response was for the dollar to strengthen while cryptocurrencies and metals corrected lower. Interest rate odds were largely unaffected for the moment so that the next cut to the Fed funds rate was still expected for June. Crude oil was in focus after prices rallied on new tensions with Iran. There was talk of resuming nuclear talks but also…

Grains aim toward a firmer start after finishing last week on stronger footing. Traders once again await guidance from the action in equities and the sharp-moving metals. In the Headlines Several market-moving headlines were produced by the World Economic Forum held in Davos, Switzerland last week, including from President Trump's speech when he stated that the U.S. would not use force to take Greenland. A subsequent sidelines meeting with NATO leaders led to Trump withdrawing the threat of new tariffs against European countries for what was claimed to be an agreement to discuss a 'framework' for a deal to purchase Greenland. Also surrounding President Trump's visit was coverage of the signing ceremony for his Board of Peace that will be tasked with implementing reconstruction and political transition in Gaza. The meetup in Davos was also notable for its widespread theme of artificial intelligence as the core driver of global economic growth. This week features the next meeting of the Federal Reserve Bank, with a decision on interest rates scheduled for Wednesday at 1 pm central with a press conference from Chair Jerome Powell 30 minutes later. The last two weeks have seen odds stick at around 95 percent for there…