August 5, 2016

Corn

CBOT Prices Two Rivers Cash Bid Prices
Sep ‘16 324’2 +3’4 Aug ‘16 283’0 +3’0
Dec ‘16 334’2 +3’2 NC ‘16 289’0 +3’0
Mar ‘17 344’4 +3’0      
May ‘17 351’2 +3’0      

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Aug ‘16 1003’6 +13’2 Aug ‘16 929’0 +17’0
Sep ‘16 988’0 +14’4      
Nov ‘16 974’4 +17’6 NC ‘16 903’0 +17’0
Jan ‘17 974’4 +17’4      

 

Impressive rebound for beans, wheat, equities & the dollar; corn a reluctant follower.

Soybeans supported on exports this week for new crop, an additional 498 kmt today (China).

Technically, Nov beans found support @ the 200 day MA with coincided with yesterday’s close.

Monthly Jobs report surprised traders with 255k new jobs added in July vs 180k expected.

The Dow saw gains of 191 pts while crude oil was down 13 cents.

Informa est corn prod @ 14.694 bb vs previous estimate of 14.531, USDA @ 14.540 bb.

They estimate bean production @ 3.958 bb vs previous @ 3.893 & USDA @ 3.880 bb.

Corn yield was estimated @ 169.8 (USDA @ 168); bean yield @ 47.7 vs USDA @ 46.7.

Commitment of Traders report showed managed money selling 39k corn and 13k beans

August 5, 2016