December 2, 2016

Corn

CBOT Prices Two Rivers Cash Bid Prices
Dec ‘16 337’4 +5’6 Dec ‘16 300’0 +4’0
Mar ‘17 347’2 +4’6 Jan ‘17 308’0 +5’0
May ‘17 354’2 +4’2 Feb ‘17 311’0 +5’0
July ‘17 361’6 +4’0 Mar ‘17 313’0 +5’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Jan ‘17 1027’4 -2’2 Dec ‘16 957’0 -2’0
Mar ‘17 1037’2 -1’6 Jan ‘17 957’0 -2’0
May ‘17 1044’4 -1’0 Feb ‘17 962’0 -2’0
July ‘17 1049’2 -1’0 Mar ‘17 962’0 -2’0

 

Corn was buoyed by strong wheat buying today on short covering after 6 straight ugly sessions

Technical support levels also helped corn save face today

Crude oil was higher and the dollar weaker on a day commodities should have been supported

Soybeans were lower as the downtrend there continues with a lack of export sales announcements

The Commitment of Traders report showed funds selling over 19k corn futures

Funds were buyers of nearly 22k contracts of soybeans and sellers of nearly 11k Chicago wheat

Wheat was supported today on talk Russia’s swine fever outbreak would restrict wheat movement

NASS October soy crush report was 176 million bushels, beating the trade expectations

We are on 10 million bushels ahead of last year’s pace and on pace to beat USDA projections

Crop satellite readings show Brazil’s crop better than last year at this time

Argentina’s satellite readings show their conditions worse than last year

December 2, 2016