Corn
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| May ‘16 | 394’6 | +10’2 | Apr ‘16 | 357’0 | +5’0 |
| Jul ‘16 | 399’6 | +10’2 | May ‘16 | 359’0 | +5’0 |
| Sep ‘16 | 399’2 | +9’0 | June ‘16 | 359’0 | +6’0 |
| Dec ‘16 | 402’6 | +6’2 | NC ‘16 | 355’0 | +6’0 |
Soybeans
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| May ‘16 | 1009’6 | +24’2 | Apr ‘16 | 941’0 | +22’0 |
| Jul ‘16 | 1019’0 | +24’2 | May ‘16 | 941’0 | +22’0 |
| Aug ‘16 | 1019’2 | +22’4 | |||
| Nov ‘16 | 999’6 | +3’6 | NC ‘16 | 926’0 | Unch. |
Another active day of hedging for especially new crop beans and old crop corn.
Corn supported as Brazil scrapped import tariffs, making US competitive for delivery.
Additional support came from news of 136 kmt of US old-corn sold to unknown.
Soybeans rebounding from early weakness, screaming above $10.
May corn and wheat both closed above the 200 day MA for 1st time since July
SN-SX sharply higher, trading an inverse
World demand shifting back to the US as rain delays Argentine harvest/lowers production ideas.
Weekly ethanol production rose .1% from last week, up .97% from a year ago.
Ethanol stocks dropped 1.2% versus last week, up 3.3% from a year ago.
Corn usage for ethanol estimated @ 98.6 mb, needs to average 98.3 to reach goal.
Crude has rebounded on news OPEC & others will meet in May for additional talks.
Crude was initially pressured on news the worker strike in Kuwait had been resolved.