Sunday Night Market Outlook 02-09-2020

Chris and Duane try to shift everyone's focus from the microscope to the broad horizon ahead. Tuesday's USDA report is anxiously awaited, but Chinese trade activity associated with Phase One is an even greater focus, even though it may seem elusive at this time to most. The lack of any recent Chinese buying is weighing on trader sentiment. USDA's own white paper released Thursday that discussed the impact of Phase One and how USDA may factor it into their balance sheets, seemed vague to me and certainly opened the door for USDA to incorporate some level of larger usage figures to the S&D report that will be released Tuesday. With prices at the lower end of recent history and with trader sentiment so bearish/discouraged, it might be a good thing to think out of the box and look further into the future than just today's prices, or Tuesday's USDA report. Join us and listen to today's podcast! This is a great time of year to take in a bigger picture perspective.