August 3, 2015

Justin Huebner, Grain Division Manager Grain Commentary

Corn

CBOT Prices Two Rivers Cash Bid Prices
Sep ‘15 366’4 -4’4 Aug ‘15 344’0 -3’0
Dec ‘15 376’4 -4’6 FH Sep ‘15 344’0 -3’0
Mar ‘16 387’2 -4’6  
May ‘16 393’4 -4’6 NC ‘15 332’0 -4’0

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Aug ‘15 977’4 -3’2 Aug ‘15 937’0 -5’0
Sep ‘15 945’0 -8’2  
Nov ‘15 935’4 -4’6  
Jan ‘16 941’0 -4’6 NC ‘15 865’0 -5’0

 

  • Grains gaining back some of the early losses, but closing lower after trading near unchanged
  • Slow news day today and pretty quiet considering it’s a new month with traders typically putting on new positions in the new months
  • Trade will receive a slew of private crop estimates this week.
  • Informa to release updated production numbers on Wednesday.
  • Crude oil continuing to make new lows for the move.
  • Doane Advisory Service estimating U.S. corn yield at 163.3bu/acre soy yield estimated at 44.2 bu./acre Corn production estimated at 13.204 billion bu. Bean production estimated at 3.675 billion bu.
  • Informa July production estimate had U.S. corn yield at 165.4 Bu/Acre production at 13.412 billion bu.
  • Informa July production estimate had soybean yield at 45.1 Bu/Acre production at 3.808 billion bu.
  • Weekly export inspections for week ending 7-30-2015 were 4.46 million bu soybeans and 36.25 million bu. Corn
  • These were a little disappointing when looking at the past few weeks and lower prices
  • Crop conditions report showed corn unchanged at 70% good/excellent vs. 73% last year and 58.2% on average. Iowa was unchanged at 83%
  • Bean conditions were up 1 point to 63% good/excellent vs. 71% last year and 58.2% on average. Iowa was up 3 points to 79%
August 3, 2015