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Market Update for April 6, 2018

Ben Potter takes a look at a very raucous market this week thanks to the trade kerfuffle with China and wild weather. (audio)

While tariff threats from China roiled the markets this week,in both directions the markets ended the week on decent footing.  

Soybeans are in the $10.30s and corn is nearing $4 in July futures. Spring wheat had a weather rally today that bumped them back over $6.

It's too early to say if planting plans are changing based on tariffs, but weather could also influence those decisions as we near planting time. The USDA and Farm Futures are both predicting a fairly even crop of corn and soybeans. The USDA is predicting that this year will see a bit more soybeans than corn for the first time in 35 years.

High water is also a complicating factor as spot basis bids were jumping up higher than normal as sellers try to get grain moved ahead of more inclement weather or possible tariffs. 

Be sure to check Farm Futures next week as we have full coverage of the USDA's next WASDE report.

 

 

 

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