August 19, 2015

Corn

CBOT Prices Two Rivers Cash Bid Prices
Sep ‘15 367’2 +1’0 Aug ‘15 347’0 +1’0
Dec ‘15 378’4 +1’2 FH Sep ‘15 347’0 +1’0
Mar ‘16 390’0 +1’2  
May ‘16 395’6 +0’6 NC ‘15 333’0 +2’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Sep ‘15 903’4 -9’6 Aug ‘15 915’0 -10’0
Nov ‘15 893’4 -10’6  
Jan ‘16 898’6 -11’2  
Mar ‘16 899’2 -10’4 NC ‘15 827’0 -9’0

 

The soybean sell-off continues, falling to lowest in 5 years

Soybeans pressured as favorable rainfall moves across the Corn Belt.

“Risk-off” type attitude as traders focus on Fed comments.

An interest rate hike looks unlikely now. China devaluating their yuan likely pushed this off a bit

General market negativity stemming from China as their economy continues to slow.

Corn may be finding some support on drop in ratings; talk of increased Canada demand.

Crude oil down another $1.82, making fresh 6-yr low; Dow down 163 pts.

Crude inventory rose by 2.6 million barrels; weekly inventories near record high for Aug.

Weekly ethanol production of 965k bpd was unchanged from LW, up 3% from LY.

Ethanol stocks rose .17% vs LW and up 1.7% from a year ago.

Corn usage estimated @ 101.3 mb, needing to avg 98 mb/wk to reach budget.

 

August 19, 2015