Morning Comments August 1, 2018
Wednesday, August 1, 2018, 8:08 AM
Submitted by: Landus Cooperative
Corn down 1-2
Beans down 12-15
Wheat up 4-5
In overnight news, the Trump administration is threatening to now raise the 2nd batch of tariffs to 25%, which is a 15% increase from the originally announced 10% level. China then proclaims it will retaliate in due course if the U.S. does this. Weather models have changed a little for the Midwest – talking about rains today and tomorrow, then turning hot again for next 3-5 days.
Thursday, the U.S. and Mexico are scheduled to sit down and talk about NAFTA. Right now Canada is not scheduled to be there. FOMC meetings are scheduled to be done this afternoon and interest rate adjustments will be announced. Trade thinking it will stay in the 1.75% to 2.0% range, which is steady month-on-month.
Have a great day!