Morning Comments April 6, 2018
Friday, April 6, 2018, 8:04 AM
Submitted by: Landus Cooperative
Corn-3 to 4
Beans -10 to 12
Good morning – Happy Friday!
We saw lower trade overnight with corn down 3-4 cents and beans down 10-12 cents at the pause this morning.
Grains are under pressure again after Trump announced he is considering an additional 100 billion dollars in tariffs on China. The Chinese Ministry of Commerce responded to the new proposal with a statement on their website saying that they will be listening and observing what the U.S. does. The ministry added that China is prepared to follow suit and fight the U.S. at any cost. The escalating trade spat has pushed U.S. stock futures lower and gold higher as investors seek safer assets.
No major changes are on the horizon for Midwest weather, heavy rains possible by late next week and temperatures much cooler than average.
The next report to watch for is the USDA WASDE report next Tuesday, April 10th. Otherwise it’s all about trade and that looks to be a wild ride for the grain markets.
Thank you for your business, have a great weekend!