April 8, 2016

Corn

CBOT Prices Two Rivers Cash Bid Prices
May ‘16 362’2 +0’6 Apr ‘16 335’0 Unch.
Jul ‘16 365’0 +1’0 May ‘16 336’0 +3’0
Sep ‘16 368’0 +1’0 Jun ‘16 331’0 +1’0
Dec ‘16 375’0 +0’6 NC ‘16 327’0 +1’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
May ‘16 916’6 +12’2 Apr ‘16 857’0 +12’0
Jul ‘16 925’0 +12’2 May ‘16 857’0 +12’0
Aug ‘16 927’4 +11’6      
Nov ‘16 930’6 +11’2 NC ‘16 861’0 +11’0

 

Soybeans showed impressive strength today, bouncing off the 20 day moving average.

Wheat found support near the 5-week low, corn steady but made a new high for move.

Cold temps tonight with freeze advisories in place; winter wheat damage should be minimal.

Frost damage may be more prevalent in S. Carolina, Georgia and Tennessee for Sunday AM.

A drier outlook for the southern Plains may be supporting wheat, no major event for 10 days.

The wet pattern across Argentina gaining attention with harvest delays; heavy rains late next week.

USDA announced the sale of 120,000 tons of corn sold to unknown for 2015-16 delivery.

Crude rallying sharply, approaching $40 and @ a two-week high as equities bounce sharply.

Crude supported on comments from Yellen, a drop in US supplies, & hopes of a production freeze.

Kuwait suggests a production freeze is still possible despite Iran’s reluctance; meeting is next Friday.

MDA Weather Services predicts this summer could be the 5th warmest since 1950 on shift to La Nina.

Commitment of Traders report showed funds selling 59,102 contracts of corn last week

Report also showed traders buying 123 contracts of beans and 1,541 contracts of Chicago wheat

April 8, 2016