Corn
CBOT Prices | Two Rivers Cash Bid Prices | ||||
May ‘18 | 389’4 | +8’4 | Apr ‘18 | 341’0 | +9’0 |
Jul ‘18 | 398’2 | +8’4 | May ‘18 | 347’0 | +9’0 |
Sep ‘18 | 404’6 | +8’0 | June ‘18 | 346’0 | +8’0 |
Dec ‘18 | 413’2 | +8’2 | NC ‘18 | 364’0 | +8’0 |
Soybeans
CBOT Prices | Two Rivers Cash Bid Prices | ||||
May ‘18 | 1031’2 | +16’0 | Apr ‘18 | 951’0 | +19’0 |
Jul ‘18 | 1042’0 | +15’4 | May ‘18 | 954’0 | +19’0 |
Aug ‘18 | 1043’4 | +14’6 | June ‘18 | 952’0 | +13’0 |
Nov ‘18 | 1034’0 | +15’0 | NC ‘18 | 951’0 | +15’0 |
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Grain prices continued to rebound the day following the panic selling after Chinese tariff threats
Corn prices actually finished one cent above pre-tariff announcement
Corn export sales behind expectations for last week while soybeans were ahead of expectations
Both China and US officials have said they’re interested in negotiations over recent tariff threats
Non-China business interest has shifted to the US after Brazil basis values have shot higher
So the US may see an increase in soybean export business in the near term
China would only impose retaliatory tariffs in response to actual tariff implementation by the US
May 15 would be the absolute earliest the US could implement a tariff on Chinese goods
Final rebuttals will be due by May 22 on any disagreements with a May 15 decision
That gives Chinese buyers about 10 days to buy and ship soybeans ahead of the May 15 date
China simply can’t turn away from US soybeans, as Brazil can’t fulfill all China’s annual needs