December 1, 2015

Corn

CBOT Prices Two Rivers Cash Bid Prices
Dec ‘15 367’0 +2’0 Dec ‘15 344’0 +1’0
Mar ‘16 373’6 +1’4 Jan ‘15 347’0 +3’0
May ‘16 379’2 +1’2 Feb ‘15 349’0 +5’0
Jul ‘16 384’4 +0’6 Mar ‘15 351’0 +5’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Nov ‘15 889’2 +8’2 Dec ‘15 839’0 +7’0
Jan ‘16 891’4 +8’2 Jan ‘15 834’0 +9’0
Mar ‘16 897’4 +8’0 Feb ‘15 837’0 +9’0
May ‘16 903’4 +8’2 Mar ‘15 836’0 +9’0

 

Higher markets as soybeans continue to march higher, corn reluctant to follow beans due to weak wheat

Technically, SF looks poised to close above the 50 day MA for the 1st time in 5 weeks.

Lastly, March wheat is making a new low for the move; nearing the contract low of 4.72.

Weekly COT report was a little bullish as funds increase shorts in corn, wheat and beans.

Funds are short 100k corn, 47k wheat & 53k beans; record net short cumulative c, s, w, hogs & cattle.

EPA raises biofuel mandates vs May proposal; trade overlooks data, currently exceeding mandate.

Winter wheat conditions improve 2% in the Gd/Ex ratings; emergence @ 93% and on average.

SA weather is unchanged from earlier but a little bearish; Mato Grosso to receive 1-3” next week.

ABARES cut Australia’s winter wheat production by 5.2%, trims canola slightly & raises cotton.

For Nov, Mato Grosso received 70% of normal rainfall; most of C and S Brazil 100-130%.

Equities were higher, the dollar is lower and crude oil is mixed; ethanol is higher, led by Gasoline

 

December 1, 2015