The UN Secretary-General who is at the annual World Economic Forum in Davos, Switzerland, said the world economy is in sad shape with multiple negative issues, which compound each other.
The debate about the US debt ceiling is always a negative for markets. The Democrats are saying the Republicans are willing to stop social security checks, medicare payments and default on the national debt. It did not help attitudes when Microsoft and Amazon both laid-off 10,000 each. Throw in China’s Lunar New Year celebration starts Sunday, so there will be no business there for the better part of two weeks.
For the second consecutive week, ethanol production was up as stocks were down. It cannot get any better than that for corn producers.