Morning Comments July 11, 2018
Wednesday, July 11, 2018, 8:07 AM
Submitted by: Landus Cooperative
Corn penny lower
Beans 10 cents lower
Grains trading lower this morning after news the Trump administration has announced it would slap 10 percent tariffs on an extra $200 billion worth of Chinese imports. The tariffs are in addition to Trump's 25% tariffs on $50 billion worth of Chinese goods. Tariffs on the first $34 billion worth of goods went into place last Friday. The second round, which will apply to around $16 billion worth of Chinese goods, is set to be imposed in the coming weeks. President Donald Trump has said he may ultimately impose tariffs on more than $500 billion worth of Chinese goods, roughly the total amount of U.S. imports from China last year. This has been a huge market driver the past few months and we’ll continue to wait and see if these rumors come out to be true.
There is also a USDA WASDE report to be released Thursday at 11:00 AM!
Have a good day!