December 2, 2015

Corn

CBOT Prices Two Rivers Cash Bid Prices
Dec ‘15 364’0 -3’0 NC ‘15 340’0 -4’0
Mar ‘16 370’2 -3’4 Dec ‘15 343’0 -4’0
May ‘16 376’0 -3’2 Jan ‘15 345’0 -4’0
Jul ‘16 381’4 -3’0 Feb ‘15 347’0 -4’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Nov ‘15 892’2 +3’0 NC ‘15 841’0 +2’0
Jan ‘16 895’0 +3’4 Dec ‘15 837’0 +3’0
Mar ‘16 901’2 +3’6 Jan ‘15 840’0 +3’0
May ‘16 907’4 +4’0 Feb ‘15 840’0 +4’0

 

Mostly weaker markets today with beans being the exception as wheat makes new contract lows.

Soybeans tried to bounce on a drier outlook for SA but quickly ran out of steam.

The dollar continues to weigh on commodities, scoring a fresh, 7.5 month high.

New highs in the dollar as the market anticipated Fed Chairwoman Yellen to continue to suggest a Dec. rate hike

Yellen continued to pave the way for a rate hike despite some weakening economic factors

Corn pressured on ideas a 10% increase in Argentine plantings may occur on revised tax rates.

Beans did find support on news of 124 kmt of US beans were sold to unknown buyer.

Weekly ethanol production fell 5.2% from LW’s record production level, down .6% from LY.

Ethanol stocks rose 1.9% versus last week, up 15.7% from a year ago.

Corn consumption for ethanol estimated @ 100.38 mb, needing to average 98.7 mb.

Cattle futures are limit lower as the cash market continues to move lower.

El Nino conditions continue to show the highest sea surface temperatures on record

No major changes in the midday maps for SA; trade’s focus turning to rain chances in Mato Grosso.

December 2, 2015