March 26, 2018

Corn

CBOT Prices Two Rivers Cash Bid Prices
Mar ‘18 374’0 -3’2 Mar ‘18 323’0 -3’0
May ‘18 382’4 -3’2 Apr ‘18 329’0 -3’0
Jul ‘18 389’0 -3’0 May ‘18 331’0 -3’0
Dec ‘18 396’6 -2’4 NC ‘18 347’0 -2’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Mar ‘18 1025’4 -2’6 Mar ‘18 936’0 -2’0
May ‘18 1036’4 -2’6 Apr ‘18 943’0 -2’0
Jul ‘18 1039’0 -2’2 May ‘18 947’0 -2’0
Nov ‘18 1025’4 -1’0 NC ‘18 942’0 -1’0

 

Grain markets couldn’t hold their overnight gains as the market seems unsure of next direction

Grain prices are stuck between support and resistance levels but uncertainty is making market anxious

Markets are also on edge regarding possible tariffs on agricultural commodities

I don’t believe soybeans will be near the top of their list of potential products of retaliatory tariffs

South America would struggle to supply China with their needs solely

China expects to import over 100 million tonnes of soybeans in 2018

Disappointing export inspections reports for corn and beans did little to support prices today

The market will likely be quiet ahead of Thursday’s USDA acreage estimate report

Traders watch this report as the acres reported will be used in calculations until actual FSA numbers are released in May

 

Hot and dry weather remains in Argentina, rain expected farther out but impact should be minimal

March 26, 2018