December 28, 2015

Corn

CBOT Prices Two Rivers Cash Bid Prices
Mar ‘16 361’0 -3’4 Dec ‘15 330’0 -3’0
May ‘16 367’6 -3’0 Jan ‘16 330’0 -3’0
Jul ‘16 373’6 -3’0 Feb ‘16 333’0 -3’0
Sep ‘16 378’2 -3’0 Mar ‘16 334’0 -3’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Jan ‘16 865’0 -10’2 Dec ‘15 810’0 -10’0
Mar ‘16 861’2 -11’6 Jan ‘16 810’0 -10’0
May ‘16 866’4 -11’0 Feb ‘16 806’0 -10’0
Jul ‘16 873’2 -11’2 Mar ‘16 805’0 -10’0

 

Beans gap lower as weather models agree on improved rain chances for northern Brazil.

Wheat mildly supported on fears of winterkill; corn trades to a new contract low.

Other bearish news includes a pick-up in Argentine selling, southeast US hog producer importing SA meal.

Chinese corn futures lower on talk gov’t reserves will be available 2-3 months earlier than normal.

A Reuter’s report suggests Beijing will offer reserves below fair-market value sometime in February.

Mostly dry/hot weather to dominate northern Brazil thru the week but rains to return Sun-Tuesday.

Export inspections were solid beans @ 53.8 mb, corn @ 22.5 mb and wheat  @11.2 mb.

NOAA’s extended outlook is calling for below normal temperatures throughout the Midwest.

COT report showed funds adding shorts in beans and wheat; substantial short additions in corn

CME announces margin increases for feeder cattle

 

December 28, 2015