April 3, 2018

Justin Huebner, Grain Division Manager Grain Commentary

Corn

CBOT Prices Two Rivers Cash Bid Prices
Mar ‘18 388’4 +1’2 Mar ‘18 340’0 +2’0
May ‘18 397’2 +1’4 Apr ‘18 346’0 +2’0
Jul ‘18 404’2 +1’4 May ‘18 345’0 +1’0
Dec ‘18 412’2 +1’0 NC ‘18 363’0 +1’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Mar ‘18 1038’0 +2’4 Mar ‘18 955’0 +3’0
May ‘18 1049’2 +3’0 Apr ‘18 958’0 +3’0
Jul ‘18 1051’4 +2’4 May ‘18 961’0 +3’0
Nov ‘18 1042’2 +2’2 NC ‘18 959’0 +2’0

 

Values climbed higher today, finishing higher for the day but well off the highs of early in the session

Values again were higher overnight but lost buying enthusiasm as the market tries to find direction

Concerns the EPA may be compromising with blenders on their responsibilities on the blend law

Wheat condition ratings were released Monday night and were reported 32% good/excellent

This is one of the worst ratings we have seen reported compared to the last several years

It has historically been difficult to achieve trendline yields when condition ratings start so poorly

The lowest initial % that has still achieved trendline yields was 44%

Midwest weather stays cold and wet for now, but the 6-10 day turns drier

Southern US states are impressively ahead of average pace despite the slow start further north

Argentina weather has turned wetter but is widely expected to be too late to help growing crops

Now, too much rain would only slow harvest progress and delay potential export shipments

April 3, 2018