December 22, 2015

Corn

CBOT Prices Two Rivers Cash Bid Prices
Mar ‘16 366’2 -5’6 Dec ‘15 335’0 -6’0
May ‘16 372’4 -5’4 Jan ‘16 335’0 -6’0
Jul ‘16 378’4 -5’4 Feb ‘16 338’0 -6’0
Sep ‘16 382’6 -5’0 Mar ‘16 339’0 -6’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Jan ‘16 885’2 -6’0 Dec ‘15 833’0 -6’0
Mar ‘16 885’4 -6’0 Jan ‘16 831’0 -6’0
May ‘16 890’4 -6’4 Feb ‘16 831’0 -6’0
Jul ‘16 897’2 -6’6 Mar ‘16 830’0 -6’0

 

Corn and beans turned lower as the session closed despite higher crude oil & equities.

Poor export demand continues to be the negative theme; Russia now cutting wheat export tax.

Crude was higher for the 1st time in a week; dollar poised for the 1st lower month since Aug.

Early support attributed to China’s gov’t saying they will provide more stimulus.

Chinese stocks rise to a four-month high while the Shanghai Composite has rallied 20% this Q.

Mixed weather out of Mato Grosso with scattered rains followed by more dryness.

Total affected area originally around 10-15% of total area but newest estimates are around 20%

Dryness in India hurting their wheat crop, may turn India into a net importer of wheat

One SA group feels a 95 mmt bean crop out of Brazil would be “worst case scenario” (USDA @ 100).

Both live and feeder cattle continue higher after locking limit higher the previous two sessions.

Fed Res Bank Pres Lockhart says a “gradual” rate hike may provide increases every other meeting.

However, the average trade guess suggests just a 51% chance of another rate hike by April.

 

December 22, 2015