Corn
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| May ‘18 | 380’2 | -2’2 | Apr ‘18 | 336’0 | -3’0 |
| Jul ‘18 | 389’2 | -1’6 | May ‘18 | 337’0 | -3’0 |
| Sep ‘18 | 396’6 | -1’4 | June ‘18 | 337’0 | -2’0 |
| Dec ‘18 | 406’0 | -1’2 | NC ‘18 | 357’0 | -1’0 |
Soybeans
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| May ‘18 | 1046’0 | +4’0 | Apr ‘18 | 973’0 | +4’0 |
| Jul ‘18 | 1057’2 | +4’0 | May ‘18 | 976’0 | +4’0 |
| Aug ‘18 | 1058’4 | +5’0 | June ‘18 | 974’0 | +4’0 |
| Nov ‘18 | 1045’2 | +5’0 | NC ‘18 | 965’0 | +5’0 |
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Corn finished lower today while soybeans trade higher based on China talk
China announced they would add a 78.6% tariff on US sorghum imports
This panic brought the buyers into soymeal anticipating they may have to buy more soymeal
This tariff was in the works since early February and isn’t due to the recent US steel tariff threats
China is trying to sell their old corn reserves and this is a way to eliminate some competition
Currently, the US has the cheapest beans available into China with Brazil basis jumping higher
Chinese pork prices are at 8-year lows, which is why China implemented US pork tariffs
Midwest weather 10-day forecasts may be warm enough for planting in southern areas
However, many northern production areas will not be warm enough to plant a lot
Forecasts for the Midwest look drier, but the warmth is lacking to generate significant planting