August 13, 2015

Corn

CBOT Prices Two Rivers Cash Bid Prices
Sep ‘15 363’6 +6’4 Aug ‘15 335’0 +8’0
Dec ‘15 375’2 +7’2 FH Sep ‘15 334’0 +6’0
Mar ‘16 387’0 +7’2  
May ‘16 394’0 +7’6 NC ‘15 330’0 +7’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Aug ‘15 991’6 +42’0 Aug ‘15 948’0 +17’0
Sep ‘15 962’6 +17’6  
Nov ‘15 953’2 +17’0  
Jan ‘16 958’2 +17’4 NC ‘15 858’0 +17’0

 

The “dead cat bounce” was initially squashed following disappointing weekly export sales but late rebounded

Overall a pretty quiet day following yesterday’s big down day

Old crop sales were just 1.2 mb of corn, 3.5 mb of beans and 15.5 mb of wheat.

New crop sales were nothing impressive with corn @ 19.8 mb and beans @ 24.3 mb.

Outside markets were bearish with the dollar higher, oil lower, and gold lower

China devalued the yuan for the third day in a row, now down more than 4% from last week.

China states they will keep the yuan stable at a reasonable, equilibrium level.

Pro Farmer’s Crop Tour begins next Monday with the trade waiting for comments (after yesterday).

Friday is the last trading day for August futures – no bean or meal deliveries to date.

Due to the no deliveries that was the reason August futures were up 42 cents today

Argentine farmers to stage a 5-day suspension of grain sales to pressure stance on export restrictions.

Weekly jobless claims showed the 4-week average @ lowest level since April 2000.

 

August 13, 2015