August 24, 2015

Corn

CBOT Prices Two Rivers Cash Bid Prices
Sep ‘15 368’6 +3’4 Aug ‘15 338’0 +3’0
Dec ‘15 380’4 +3’2 FH Sep ‘15 340’0 +3’0
Mar ‘16 391’6 +3’0  
May ‘16 398’0 +3’2 NC ‘15 337’0 +3’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Sep ‘15 892’6 -12’4 Aug ‘15 891’0 -16’0
Nov ‘15 874’0 -15’4  
Jan ‘16 877’4 -16’0  
Mar ‘16 876’2 -17’0 NC ‘15 808’0 -15’0

 

An ugly day for most commodities; corn and live hogs being the only real winners

Weakness attributed to China as their equities drop another 8.5%, down 20% in 6 days.

The People’s Bank of China surprised traders, failing to lower lending reserve ratios for banks.

The dollar makes an 8-mo low as traders realize the Fed will not be able to raise rates in Sep.

Equities rebounding on thoughts that the US is the prettiest horse in the glue factoryJ.

Corn impressively turns higher (along with wheat); Pro Farmer crop tour pegs US yield @ 164.3 bpa.

Corn bouncing back as equities rebound. Dow finished down 588 points

Cash Midwest basis a tad firmer as selling remains nonexistent

US weather looks mostly favorable following recent rains but dry areas will finish dry.

Weekly export inspections for corn @ 34.8 mb, beans @ 7.7 and wheat @ 10.2 mb.

Argentine farmers started a 5 day strike in crop sales to protest export taxes.

 

August 24, 2015