August 10, 2016

Corn

CBOT Prices Two Rivers Cash Bid Prices
Sep ‘16 322’4 +0’2 Aug ‘16 282’0 +3’0
Dec ‘16 333’0 +0’4 NC ‘16 288’0 Unch.
Mar ‘17 343’2 +0’2      
May ‘17 350’0 +0’2      

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Aug ‘16 1017’0 -5’0 Aug ‘16 937’0 -6’0
Sep ‘16 998’4 -6’4      
Nov ‘16 982’2 -5’6 NC ‘16 911’0 -6’0
Jan ‘17 982’0 -4’6      

 

Wheat futures tried leading corn higher while beans struggled to break $10 and then turned lower.

For the second consecutive day, Nov beans tested but failed to push above the 20 day MA.

Soybeans turned lower on the lack of any export news, (1st time in 11 days).

The USDA did announce the sale of 143,650 of new crop corn to Mexico.

Crude turned small gains to a moderate loss with most discounting any OPEC production cuts.

Bean oil continued to climb higher, trading near a 6-week high while meal has turned lower.

Japan’s weather bureau gives a 70% chance that a La Nina event will develop this fall.

China’s finance ministry says higher than expected corn subsidies likely to create overproduction.

Cargill reported 4th quarter losses of $19 million compared to gains of $230 million same Q last year.

 

August 10, 2016