December 1, 2016

Corn

CBOT Prices Two Rivers Cash Bid Prices
Dec ‘16 331’6 -5’0 Dec ‘16 296’0 -5’0
Mar ‘17 342’4 -6’0 Jan ‘17 303’0 -6’0
May ‘17 350’0 -5’6 Feb ‘17 306’0 -5’0
July ‘17 357’6 -5’6 Mar ‘17 308’0 -5’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Jan ‘17 1029’6 -2’4 Dec ‘16 959’0 -2’0
Mar ‘17 1039’0 -2’2 Jan ‘17 959’0 -2’0
May ‘17 1045’4 -3’4 Feb ‘17 964’0 -2’0
July ‘17 1050’2 -3’6 Mar ‘17 964’0 -2’0

 

Corn and bean prices came under pressure again today without the necessary feed for the bull

Corn was drug down by wheat, which is testing lowest levels since September

Wheat’s September lows are the lowest prices since 2006

Corn export sales were disappointing at 30 million bushels vs 35.4-47.2 million expected

Soybean sales were on the high end of estimates at 51.4 million.  2.4 million sold for new crop

Soybeans bounced at day’s end led by soyoil.  Soyoil higher on a strong export sales report today

Crude oil continued its strong run today, up another 3.5% for Brent Crude Oil futures

The dollar was over 400 points weaker again today but grains didn’t seem to care much

Cold weather looks to set in over most of the country next week

It looks like the Farmers Almanac projection of a very cold, snowy winter may be true after all

December 1, 2016