February 18, 2016

Corn

CBOT Prices Two Rivers Cash Bid Prices
Mar ‘16 365’4 -1’6 Feb ‘16 339’0 -2’0
May ‘16 369’6 -1’6 Mar ‘16 340’0 -3’0
Jul ‘16 373’6 -2’2 Apr ‘16 342’0 -3’0
Dec ‘16 386’4 -2’4 NC ‘16 338’0 -2’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Mar ‘16 879’6 -2’6 Feb ‘16 826’0 -3’0
May ‘16 882’6 -2’4 Mar ‘16 824’0 -3’0
Jul ‘16 887’4 -2’0      
Nov ‘16 890’4 -2’2 NC ‘16 816’0 -2’0

 

Weaker grain markets but found support after follow-thru selling dried up.

Wheat under modest pressure with dry and warm weather moving into the Plains.

Garden City, KS to hit 86 degrees today; rumors of anhydrous being applied.

Equities and energies turned mixed after opening higher; WTI was up 20% in 1 week.

Today’s weekly DOE report showed a build of 2.147 mb; yesterday’s API showed a 3.26 mb drop.

Weekly ethanol production rose .62% vs LW and up 1.14% versus a year ago.

Ethanol stocks build 1.14 versus LW to a new record of 23.218 mb, up 10% from a year ago.

Hedge volume has improved over the past two days, cash seems quiet as well as nearby spreads.

Well-above normal temps and below precip forecasted for the WCB and S Plains to finish Feb.

Weekly export sales delayed until Friday.  The bulls are hoping for signs of improved corn demand.

NOAA 3 month map shows normal to below precip and above normal temps for most of the Belt.

 

February 18, 2016