Morning Comments June 21, 2018
Thursday, June 21, 2018, 9:06 AM
Submitted by: Landus Cooperative
Corn up 1-2
Soybeans 5c lower
Wheat up 7 to 8
U.S. Dollar is at a 12 month high. Grains are seeing support from fund activity and some technical indicators.
China’s commerce Ministry spokesman is implying that Trump is using bullying tactics to get his way with trade, suggesting that he is wanting trade wars throughout the world.
India has also retaliated with tariffs of their own after the U.S. has imposed tariffs on their country.
Trade disputes, cooler/wetter weather for the Midwest, and less than expected weekly exports are weighing on grains.
June 29th will be the USDA Acreage report. They will be adjusting acres to what they feel got planted this spring.