December 21, 2015

Corn

CBOT Prices Two Rivers Cash Bid Prices
Mar ‘16 372’0 -2’4 Dec ‘15 341’0 -4’0
May ‘16 378’0 -2’4 Jan ‘16 341’0 -4’0
Jul ‘16 384’0 -2’2 Feb ‘16 344’0 -3’0
Sep ‘16 387’6 -2’0 Mar ‘16 345’0 -5’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Jan ‘16 891’2 -1’0 Dec ‘15 839’0 -1’0
Mar ‘16 891’4 -1’2 Jan ‘16 837’0 -1’0
May ‘16 897’0 -1’0 Feb ‘16 837’0 -1’0
Jul ‘16 904’0 -0’4 Mar ‘16 836’0 -1’0

 

It was a quiet start to this holiday-shortened week with traders likely gone for Christmas

Corn futures back below the 20 day MA after failing @ the 50 day MA on Friday.

Soybeans back below the 100 day MA after just the 2nd close above in 4 months.

China vows to prop up their slowing economy, this initially supported equities & commodities.

The rally failed with all eyes on the weaker crude and fear of more bearishness to come.

The dollar was lower today, supporting commodities

Friday’s Cattle on Feed report showed placements @ just 89% of last year (guess 95.9%).

Cattle futures were limit up on expanded $4.50 limit following Friday’s limit move, closing near limit for the day

Brent crude falls to an 11-yr low as OPEC continues to pump at near-record pace.

Weekly export inspections were solid for beans @ 53.8 mb, corn @ 28.3 and wheat 17.5 mb.

Two rain events forecasted for Mato Grosso over the next 10 days with totals of .5-1.75” possible.

Mato Grosso IMEA rates 32% of the beans G/E with 23% poor and 20% rated very poor.

 

December 21, 2015