August 11, 2016

Corn

CBOT Prices Two Rivers Cash Bid Prices
Sep ‘16 321’0 -1’4 Aug ‘16 281’0 -1’0
Dec ‘16 331’6 -1’2 NC ‘16 287’0 -1’0
Mar ‘17 342’0 -1’2      
May ‘17 349’0 -1’0      

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Aug ‘16 1022’2 +5’2 Aug ‘16 939’0 +2’0
Sep ‘16 1001’6 +3’2      
Nov ‘16 984’0 +1’6 NC ‘16 913’0 +2’0
Jan ‘17 983’4 +1’4      

 

Soybean futures rallied following big weekly new crop export sales; corn & wheat lower.

Outside markets now friendly: crude oil rallying $1.80, the dollar now mixed, & the Dow up 118 pts.

IEA cut global oil growth next year by 100,000 barrels; Saudi / OPEC to meet on production concerns.

Weekly exports were 11.3 mb old crop & 102.6 mb new crop beans; 23.4 old & 40 mb new crop corn.

USDA also announced the sale of 120 kmt new beans to China & 129 kmt new crop to unknown.

USDA also announced the sale of 100,460 mt of meal to Mexico for the 2016/17 & 2017/18 crop.

Brazilian real @ highest level since July 2015 as Senate pushes forward with impeachment process.

Saudi Arabia seeking 600 kmt of hard wheat for Oct-Nov shipment, Friday deadline for offers.

Weekly Drought Monitor shows drought alleviating thru Midwest, growing throughout the High Plains.

Survey shows a 71% chance of fed rate hike in Dec while responders give an 11% chance of a Sep hike.

Kansas City fed says non-irrigated land fell 3%, irrigated fell 5% versus last year (for their district).

 

August 11, 2016