Morning Comments June 22, 2018
Friday, June 22, 2018, 7:06 AM
Submitted by: Landus Cooperative
Beans up 5-7
Wheat down 4-5
European Union tariffs on the U.S. are to go into effect today. This is in retaliation to the U.S. tariff on steel and aluminum from Europe.
Weather models for 7-10 day for the Midwest are calling for warmer and drier. This will give some much needed relief to parts of Iowa.
Yesterday, soybeans closed at the lowest they have been since March of 2016 on nearby contract.
The Brazil transit strike is still happening. This is causing slow movement throughout Brazil. Over 50 vessels are sitting in the ports waiting to be loaded.
Traders feel that if this continues, some buyers will move to the U.S. for beans.
Seeing some quality discounts happening with grains being delivered now. Make sure you are checking your bins.