December 23, 2015

Corn

CBOT Prices Two Rivers Cash Bid Prices
Mar ‘16 365’4 -0’6 Dec ‘15 335’0 Unch.
May ‘16 371’6 -0’6 Jan ‘16 335’0 Unch.
Jul ‘16 377’6 -0’6 Feb ‘16 338’0 Unch.
Sep ‘16 382’2 -0’4 Mar ‘16 339’0 Unch.

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Jan ‘16 881’6 -3’4 Dec ‘15 830’0 -3’0
Mar ‘16 880’6 -4’6 Jan ‘16 827’0 -4’0
May ‘16 884’6 -5’6 Feb ‘16 826’0 -5’0
Jul ‘16 891’6 -5’4 Mar ‘16 825’0 -5’0

 

Corn, beans and wheat all slightly lower today despite a nice rally in crude oil.

The Santa Claus rally in effect today for equities but the demand scrooge weighs on beans.

Crude rallying after weekly report showed a 3.6 million barrel draw, largest draw since Sep.

Equities rallying with crude as investors interpret higher oil with improving optimism.

Weekly ethanol production dropped 2.7% vs last week and down 1.9% from last year.

Ethanol stocks rose .3% from a week ago and up 15.7% from a year ago.

Corn consumption estimated @ 102.2 mb, needing to average 98.3 mb to reach goal.

Nearby live cattle futures limit up on the nearby contract, having rallied $11.45 in 4 days!

IMF released a statement suggesting Iranian exports will drop crude by $5-15/barrel.

The market has already priced in the oil production increase but more pressure possible.

Potential tornado outbreak today in the Central Mississippi Valley region, 2 days before Christmas.

Quite an unusual weather season we’ve had, which is leading to weather concerns already for next year

 

December 23, 2015