August 17, 2015

Corn

CBOT Prices Two Rivers Cash Bid Prices
Sep ‘15 363’2 -0’6 Aug ‘15 338’0 -1’0
Dec ‘15 374’4 -1’0 FH Sep ‘15 336’0 -1’0
Mar ‘16 386’0 -1’0  
May ‘16 392’2 -1’6 NC ‘15 329’0 -1’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Sep ‘15 927’0 +1’6 Aug ‘15 938’0 Unch.
Nov ‘15 917’0 +0’4  
Jan ‘16 922’2 +0’2  
Mar ‘16 922’0 +0’6 NC ‘15 849’0 +1’0

 

Mixed markets with the trade debating FSA acreage numbers and how they compare to NASS.

NASS may implement some of the FSA data but not until their October monthly report.

Beneficial rains have moved into NW IA with some areas reporting 5+ inches since last night.

These rains are forecasted to move eastward; for many, the first meaningful rain in 2 weeks.

More rain this weekend; these events should provide the needed moisture to finish the crops.

1st leg of the Pro Farmer crop tour today; Columbus, OH the start in the east; Sioux Falls, SD the west.

Bean inspections were large @ 13.8 mb; corn inspections @35 mb; wheat @ 20.6 mb.

Pro Farmer reporting a wide range of production ideas out of Ohio, from 115 to 172.5 bpa.

Fed will release their minutes on Wednesday with trade paying close eye to rate hike comments.

FSA data has corn acres at 83.15 million, 6% lower than USDA. Some processing is still occurring

FSA data has bean acres at 79.5 million. These acreage numbers are far from final, however

Corn crop conditions fell 1% to 69% good/excellent vs. 72% last year and 56.6% on average

Bean crop conditions were unchanged at 63% good/excellent vs. 71% last year and 57.4% on average

The NOPA crush report showed 145.2 million bushels crushed vs. the 141.5 million trade estimate

 

August 17, 2015