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MARKET COMMENTARY

Weekly Grain Market Recap May 4, 2018

Friday, May 4, 2018, 3:05 PM
Submitted by: Landus Cooperative


Today markets closed lower almost all around.

Wheat and beans were the loss leaders.

 

For the week, July soybeans were down almost 20 cents. Traders are concerned over the U.S. and China not working out an agreement.

 

May 22nd is the day that is scheduled for the tariffs to into play.

 

For the week, wheat was up 28 cents, even though lost 12 cents today. Support in the wheat market is coming from decreased yield estimates from the crop tour and dry weather in Australia.

 

For the week, July corn was up 8 cents. 6-10 day forecast is calling for almost perfect weather for planting. Planting progress will be out on Monday afternoon and will have numbers from last Saturday until today.

 

We haven’t seen future prices this high since late July and early August. Still good levels to make sales at.

 

Recent Futures Closes

 

Futures High Today

Recent High

 

Diff

Date

May--18

SB

10.2725

10.825

 

-0.5525

3/2/2018

July--18

SB

10.3675

10.9025

 

-0.535

3/2/2018

Aug--18

SB

10.4

10.8600

 

-0.46

3/2/2018

Nov-- 18

SB

10.3725

10.6000

 

-0.2275

4/2/2018

Jan--19

SB

10.41

10.6200

 

-0.21

4/10/2018

July--18

Corn

4.0625

4.0825

 

-0.02

5/3/2018

Sept--18

Corn

4.1375

4.1575

 

-0.02

5/3/2018

Dec--18

Corn

4.21

4.2275

 

-0.0175

5/3/2018

 

 

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