1/29/19 Alek Heier Grain Marketing Specialist Trivia: In how many Super Bowls have there been no interceptions? CORN: As of 7:45- Unchanged We saw a very light trade overnight with support likely coming from traders estimating that USDA will lower yield and production on the February 8th report. On the technical side of the trade- March19 50 and 100 day moving averages are below at $3.78 ½ and $3.77 ¾ - offering support to the market. Cordonieer lowered his Brazilian corn production estimate to 91.5mmt with a lower bias. He has Argentinian corn unchanged at 40.5mmt. To date, U.S. corn exports are running behind the pace needed, with 6 weeks of export sales that were not released. SOYBEANS: As of 7:45- Down 5 Lower throughout the overnight with the arrest of a Huawei executive making some worried about the implications that could have for the trade talks. South American weather is still offering a bit of support with the potential production loss. Cordonieer dropped his Brazilian soybean production estimate again by 1mmt to 114mmt with a lower bias going forward. Mato Grosso, the largest soybean growing state in Brazil, is estimated at 26% harvested vs 12% last year. Total Brazilian harvest is pegged at 13% harvested vs 3% last year. Cordonieer has also lowered his Argentina estimate 1mmt to 55mmt with the recent heavy rains that they have been seeing. WHEAT: As of 7:45- MPLS unchanged, KC down 1 ½ Feb 8th USDA report is expected to show planted winter wheat acres, possibly down slightly from a year ago. Egypt’s GASC tendered yesterday afternoon, with U.S. FOB offer being the cheapest- without freight. Russian Ag Ministry drops next year’s production estimate, while the Russian Grain Union raised theirs, with planting reported at a near record amount of acres. Answer: Two: Buffalo vs. New York Giants XXV and St. Louis Rams vs. Tennessee XXXIV