May 29 – Grain Prices Fall After Trump Imposes Tariffs on China | Farm Lead

A brutal day on Wall Street helped boost the U.S. dollar higher as political crises rattled both Italy and Spain. Meanwhile, grain prices reacted negatively to news that the Trump administration plans to proceed with tariffs on about $50 billion of Chinese imports. Grain prices slumped in response.

Markets are also looking for cooler temperatures and some rains across the Midwest this week. Those rains are likely to provide an already healthy crop with more drink.

Let’s dive into the other events happening today at the Chicago Board of Trade.

Wheat Leads Grain Prices Lower
SRW July wheat prices fell 6.5 cents to close the day at $5.365. The September 2018 contract shed 6.25 cents to end the day a tick under $5.54 per bushel.

Down in Kansas City, HRW wheat prices didn’t fare any better. July and September 2018 contracts shed 7.5 cents and 8.0 cents, respectively. The July contract is now trading at $5.565, while the next-month contract is sitting at $5.745.

Soybean Prices Slide on China Fears
In Chicago, July soybean prices shed 11.0 cents to close the day at $10.305. The August contract shed 11.0 cents to close a tick under $10.35.

Soybean prices took a hit as markets reacted negatively to news out of Washington. The Trump administration announced it will slap a 25% tariff on about $50 billion in Chinese goods. That decision comes a week after both sides announced plans to avoid a trade war.

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May 28 – Grain Prices Fall After Trump Imposes Tariffs on China.