Corn
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| Mar ‘17 | 350’2 | -3’0 | Dec ‘16 | 306’0 | -3’0 |
| May ‘17 | 357’0 | -3’0 | Jan ‘17 | 306’0 | -3’0 |
| July ‘17 | 364’4 | -3’0 | Feb ‘17 | 310’0 | -3’0 |
| Sep ‘17 | 372’2 | -2’6 | Mar ‘17 | 313’0 | -3’0 |
Soybeans
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| Jan ‘17 | 1005’2 | -16’2 | Dec ‘16 | 936’0 | -20’0 |
| Mar ‘17 | 1015’6 | -16’2 | Jan ‘17 | 933’0 | -18’0 |
| May ‘17 | 1025’0 | -15’4 | Feb ‘17 | 937’0 | -20’0 |
| July ‘17 | 1031’4 | -15’0 | Mar ‘17 | 941’0 | -16’0 |
Â
Corn and beans both struggled today, down 3 and 16 cents, respectively
Soybeans struggled with improved weather forecasts for South America
Longer-term forecasts are calling for drier conditions but rain nearby is trumping those concerns
Technical support levels were broken early and long position holders quickly sold
Production estimates there coming out larger than anticipated
This leading the market to believe supplies won’t be a concern anymore and business could shift to SA
The dollar strength continued today as well, pressuring commodities further
Corn basis levels firming up with very little farmer movement occurring
The Dow closed at 19,974 with many expecting it to be broken with renewed optimism in the economy
December 20, 2016