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 |
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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