August 20, 2015

Corn

CBOT Prices Two Rivers Cash Bid Prices
Sep ‘15 371’0 +3’6 Aug ‘15 346’0 -1’0
Dec ‘15 382’4 +4’0 FH Sep ‘15 346’0 -1’0
Mar ‘16 393’6 +3’6  
May ‘16 399’4 +3’6 NC ‘15 337’0 +4’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Sep ‘15 921’4 +18’0 Aug ‘15 918’0 +3’0
Nov ‘15 907’2 +13’6  
Jan ‘16 911’6 +13’0  
Mar ‘16 911’2 +12’0 NC ‘15 841’0 +14’0

 

Grain markets turned moderately higher after beans made new, 6.5 yr. low.

Dec corn above yesterday’s range & above the 20 day moving average for the 1st time in a month.

Meanwhile, the dollar index has dropped to the lowest level since July 13th.

Fed on Wed stated slowdown in China poses risk for US, likely wait for rate hike.

Crude experiencing dead cat bounce; Dow was 358 pts lower, lowest since Feb.

USDA announced the sale of 193k mt of new crop US corn to Mexico.

Weekly export sales included 11.1 mb old corn and 1.7 mb of old beans.

New crop sales included 22.7 mb of corn and 28.8 mb of beans.

YTD new crop sales are running @ 61% of last year’s pace for corn; 53.6% for beans.

USDA projecting the 15/16 exports to hold steady for corn; drop 5.5% for beans.

Greece PM Tsipras announces resignation amidst turmoil; new elections in September.

Informa adjusted corn acres to 88.642 million vs. 88.897 million by the USDA

Also adjusted bean acres to 83.339 million vs. 84.339 million by the USDA

That bean acreage cut could mean a BIG change in the soy balance sheet if coupled with lower yields

August 20, 2015