December 14, 2016

Corn

CBOT Prices Two Rivers Cash Bid Prices
Dec ‘16 351’6 -4’4 Dec ‘16 314’0 +2’0
Mar ‘17 362’0 +1’0 Jan ‘17 318’0 -3’0
May ‘17 368’4 +0’6 Feb ‘17 322’0 -2’0
July ‘17 375’4 +0’6 Mar ‘17 325’0 -1’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Jan ‘17 1023’6 -4’2 Dec ‘16 959’0 -4’0
Mar ‘17 1034’4 -5’0 Jan ‘17 954’0 -4’0
May ‘17 1042’4 -5’4 Feb ‘17 959’0 -5’0
July ‘17 1048’0 -5’2 Mar ‘17 959’0 -5’0

 

Corn was able to claw out a slight gain while soybeans continue to lose momentum lacking export sales

Fundamental news was pretty slow today, almost feeling like holiday trading already

The ethanol production report showed a record 1.04 million barrels/day, using 109.2 million bushels

Ethanol stocks rose quite a bit to 546,000 barrels.  Ethanol margins remain strong this week too

The big story is South American weather.  Argentina is dry but rains are forecasted the next 2 weeks

Brazilian weather is good for the most part, any excessive heat is forecast to turn mild

Brazilian soy production estimates are increasing as well

Brazil Feb bean offers running $5/ton lower than US Jan offers into China

This shows that our export window may not be as large as years past

US weather forecasts calling for more mild temperatures in the 8-14 day forecasts

December 14, 2016