Morning Comments June 15, 2018
Friday, June 15, 2018, 8:06 AM
Submitted by: Landus Cooperative
Corn down 5c
Soybeans down 19c
Grains are lower yet again this morning after a rough close yesterday. President Trump announced the U.S. will implement a 25% tariff on $50 billion of goods from China. Details aren’t set in stone yet but these tariffs could come into effect on July 1st. In addition, the NAFTA trade dispute with Mexico is heating up and adding more fuel to the fire. Mexican officials announced that $4 billion in annual imports of U.S. corn and soybeans are in jeopardy if Trump escalates the trade war with new tariffs.
Reminder: Spring Revenue Protection Prices - These were the prices established for crop revenue protection based on the average of new-crop prices during February.
Corn - $3.96 (80% is $3.16)
Soybeans - $10.16 (80% is $8.13)
Sounds like this weekend will be a hot one, stay cool! Have a good day!