August 31, 2015

Corn

CBOT Prices Two Rivers Cash Bid Prices
Sep ‘15 363’6 +0’4 Aug ‘15 347’0 +5’0
Dec ‘15 375’2 +0’2 FH Sep ‘15 347’0 +5’0
Mar ‘16 386’2 -0’2  
May ‘16 392’6 -0’2 NC ‘15 331’0 Unch.

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Sep ‘15 897’4 +4’2 Aug ‘15 895’0 +2’0
Nov ‘15 887’4 +2’0  
Jan ‘16 892’2 +1’4  
Mar ‘16 893’6 +1’4 NC ‘15 822’0 +2’0

 

The grain markets shook off early losses, closing higher for the day

Equities are rebounding as well with the Dow down just 20 points after early losses of 170 pts.

Most of the early bearishness associated with China’s economy and lowering support prices.

Corn on the Dalian Exchange crashed 4% on rumors of a lower price support program.

China’s Shanghai Composite Index rallied back from a significant loss to close just .8% lower.

Crude oil has rallied back from $1.60 lower and closed over $3.00 higher.

News article reiterates OPEC’s concern on low prices, stands ready to talk with outside producers.

USDA did announce the sale of 125 kmt of new crop US beans to an unknown buyer.

Weekly export inspections for corn @ 39.4 mb, wheat @ 22.1 and beans @ 6.8 mb.

1st notice day for Sept deliveries with 0 beans, 90 contracts of corn and 545 soy oil contracts.

Fed Vice Chair states global economy should stabilize.  Sep rate hike still on table?

 

 

August 31, 2015