Spock wrote:
Instead of everybody just speculating and assuming that soybeans are going to go down, I thought, WTH, I might as well post soybean prices once in awhile and see what happens. I look at the numbers every day anyway.
I am going to post local cash prices-I don't want to mess with futures and/or basis.
About 3 weeks ago, I sold some soybeans for $9.50 per bushel for fall 2018 delivery. When the initial news of the tariff thing hit, soybeans had a hard down day and dropped about $.25 per bushel. Since that time, soybeans have clawed their way back and I sold some beans again today for $9.50 per bushel for Fall 2018 delivery.
So this is as good a time as any to start. Soybean prices are back where they were prior to China Tariff news and, have shrugged off the initial hit.
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Soybean price today for April 2018 delivery is $9.50.
Soybean price today for Fall 2018 delivery is also $9.50.
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Obviously, commodity prices move for many reasons, not only China Tariff stuff, but this at least gives us a baseline.
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I am going to do a corn baseline too because of the acre battle with soybeans. For example, spring planting looks like it will be late this year, thus some corn acres might switch to bean acres. Thus hurting bean price.
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Corn price today for April 2018 Delivery is $3.43 per bushel
Corn price today for Fall 2018 Delivery is $3.45 per bushel.
"I am going to post local cash prices." Why did that stop happening when soybean prices started cratering to the extent that American taxpayers are being asked to bail out farmers? --Bob