April 6, 2018

Corn

CBOT Prices Two Rivers Cash Bid Prices
May ‘18 388’4 -1’0 Apr ‘18 340’0 -1’0
Jul ‘18 397’0 -1’2 May ‘18 346’0 -1’0
Sep ‘18 404’0 -0’6 June ‘18 345’0 -1’0
Dec ‘18 412’4 -0’6 NC ‘18 364’0 Unch.

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
May ‘18 1033’6 +2’4 Apr ‘18 954’0 +3’0
Jul ‘18 1044’6 +2’6 May ‘18 957’0 +3’0
Aug ‘18 1046’0 +2’4 June ‘18 955’0 +3’0
Nov ‘18 1033’2 -0’6 NC ‘18 950’0 -1’0

 

Another day in the midst of trade war, tariff threats that have markets on edge

President Trump asked for drafting of another $100 billion tariff implementation against China

China is unable to match this threat as it would put them over 100% tariff on US products

But the fear is they may threaten retaliation in other ways

Trump and Secretary Perdue said they expect to find a way to protect farmers from negative impacts

Markets rebounded throughout the session as demand shows up when the markets sell off

USDA announced sales of 458k tons of beans to unknown (likely China) and 130,632 tons to Mexico

Also sales reported of 100k tons of corn to Egypt and 20,000 tons of soy oil to unknown

Brazilian farmers reportedly slowing soy sales in anticipation of higher prices via Chinese/US tariffs

Negotiators of a NAFTA agreement are optimistic that an agreement will eventually be made

Planting delays are a concern as cool, wet weather looks to hang around awhile in the Midwest

April 6, 2018