December 30, 2015

Corn

CBOT Prices Two Rivers Cash Bid Prices
Mar ‘16 359’0 -3’4 Dec ‘15 328’0 -4’0
May ‘16 365’2 -3’6 Jan ‘16 328’0 -4’0
Jul ‘16 371’4 -3’4 Feb ‘16 331’0 -4’0
Sep ‘16 375’6 -3’4 Mar ‘16 332’0 -4’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Jan ‘16 875’4 +5’4 Dec ‘15 823’0 +6’0
Mar ‘16 870’2 +4’4 Jan ‘16 821’0 +6’0
May ‘16 875’6 +4’2 Feb ‘16 815’0 +4’0
Jul ‘16 883’0 +4’2 Mar ‘16 814’0 +5’0

 

Soybeans performed relatively well considering small to moderate losses in corn and wheat.

Beans supported on thoughts this weekend’s rain event will help but not end NE Brazil’s drought.

Corn remains under pressured with Argentina origin offered at roughly a $10/MT discount to US.

First Notice Day for Jan beans is tomorrow, longs reported today; bean and meal deliveries expected light.

Weekly ethanol production rose 1.95% from last week and up 2.1% versus a year ago.

Corn usage for ethanol is estimated near 104.2 mb, needing to average 98.8 mb to reach goal.

Crude remains weaker as DOE report shows a 2.6 mb build & a 1.8 mb increase in distillates.

Saudi Arabia continues its war against the US fracking, reiterating plans of unrestrained output.

Saudi Arabia also announced a 60% rate hike in gasoline prices to help offset reduced oil income.

A Swiss company is scheduled to load the 1st US crude cargo in 40 years, destination still unknown.

 

December 30, 2015