The 2019 Top Producer Summit is buzzing with trade discussion as marketers and the nation’s largest farmers discuss the lack of export data continuing to weigh down grain markets.
“When it comes to capturing upside potential or seeing some of that volatility that tends to create some opportunities in the market, no, we don't have enough information right now,” Angie Setzer of Citizens Grain LLC told AgDay’s Betsy Jibben at the Summit. “The market structure is waiting to see what the USDA is going to say.”
Markets are not as concerned about the “meat” of the information, according to Setzer. Instead, traders are worried there could be a surprise when export data is released following the shutdown.
“Do you see buyers come in? Do you see sellers come in without that USDA information, despite the risk that the USDA comes at us with some sort of numbers surprise?” Setzer wonders.
On Wednesday, Agriculture Secretary Sonny Perdue announced USDA would be sending thousands of workers back to the office for a short period of time to help farmers conduct business during the shutdown. While some regional FSA offices will be open with limited services, there is no indication that any data will be released by the agency before the shutdown ends.