December 15, 2016

Corn

CBOT Prices Two Rivers Cash Bid Prices
Mar ‘17 356’4 -5’4 Dec ‘16 309’0 -5’0
May ‘17 363’2 -5’2 Jan ‘17 312’0 -6’0
July ‘17 370’6 -4’6 Feb ‘17 316’0 -6’0
Sep ‘17 377’4 -4’4 Mar ‘17 319’0 -6’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Jan ‘17 1029’0 +5’2 Dec ‘16 959’0 Unch.
Mar ‘17 1039’2 +4’6 Jan ‘17 954’0 Unch.
May ‘17 1046’4 +4’0 Feb ‘17 959’0 Unch.
July ‘17 1051’4 +3’4 Mar ‘17 959’0 Unch.

 

Corn finished lower despite the strength shown in soybeans

The export sales report showed 59.7 million bushels of corn sold vs. highest estimate of 43.3 million

Soybean export sales came in at 73.8 million bushels vs. highest estimate of 55.1 million

The USDA announced today the sale of 132,000 tonnes of soybeans to China

The surging dollar has surprisingly had little effect on the export program thus far, strong front loading

Of course, the concern would be Chinese bean cancellations if South American crop is good

Weather forecasts there have turned milder for temps & more rainfall in Argentina in 2 wk forecast

The NOPA crush report showed 160.8 million bushels crush vs. 162.6 million avg estimate

Soymeal shipments were at 804k tons vs. 562k in October and 848k in November 2015

Bean oil stocks were at 1.339 billion pounds, well below 1.477 in Nov 2015 and 1.381 avg estimate

December 15, 2016