April 14, 2016

Corn

CBOT Prices Two Rivers Cash Bid Prices
May ‘16 374’0 +0’4 Apr ‘16 343’0 -1’0
Jul ‘16 378’0 +1’0 May ‘16 346’0 -1’0
Sep ‘16 379’4 +0’4 June ‘16 344’0 +1’0
Dec ‘16 385’4 +1’4 NC ‘16 338’0 +2’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
May ‘16 948’0 -7’6 Apr ‘16 886’0 -8’0
Jul ‘16 956’2 -8’2 May ‘16 886’0 -8’0
Aug ‘16 958’0 -8’2      
Nov ‘16 959’2 -6’6 NC ‘16 889’0 -7’0

 

The grain markets under mild pressure following yesterday’s impressive rally.

New highs for the move were scored for most corn and bean contracts in the overnight.

US weather looks conducive for spring plantings; little to no rain from IA to OH next 10 days.

Weekly exports were better than expected with corn 44.7 mb, beans 16.7, wheat 4.6 mb.

Open interest for soybeans hits an all-time high; funds estimated long 119k beans and short 127k corn.

Funds were estimated buyers of 35k corn, 15k beans, 11k wheat and 10k meal on Wednesday.

NOPA crush estimates for tomorrow’s report @ 156 mb vs 146 in Feb and 163 mb last year.

Weekly drought monitor shows US dryness expanding, now 39.2% in D0-D4 category

KS now 97.45% D0-D4, compares to 2.16% 3 mo ago; MO @ 51.28% vs 0% 3 mo ago.

Weekend storm for Denver to produce 5-11” of snow, 2-4” rains possible for W Plains.

 

April 14, 2016