February 7, 2017

Corn

CBOT Prices Two Rivers Cash Bid Prices
Mar ‘17 368’4 +4’6 Feb ‘17 326’0 +6’0
May ‘17 376’0 +4’6 Mar ‘17 329’0 +5’0
July ‘17 383’2 +5’0 Apr ‘17 335’0 +5’0
Dec ‘17 396’2 +4’2 NC ‘17 347’0 +4’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Mar ‘17 1042’6 +6’6 Feb ‘17 960’0 +4’0
May ‘17 1053’2 +7’0 Mar ‘17 965’0 +4’0
July ‘17 1061’4 +6’4 Apr ‘17 968’0 +7’0
Nov ‘17 1019’4 +2’4 NC ‘17 945’0 +3’0

 

Corn and beans both modestly higher today with fresh news fairly limited

The South American crop seems to be getting larger, US dollar trading higher and crude oil is trading lower, yet grains are moving higher.

Lack of farmer selling possibly lending some support.

Basis values still very wide with plenty of willing sellers on price rallies

USDA reporting 128,000 metric tons of corn sold to Japan.  Believed to be for April shipment off the PNW.

Goldman roll began today and will continue over the next 5 business days.

China’s attempt to reduce large corn inventories has increased corn speculative interest on the Dalian Exchange.

The USDA will hold its annual Ag Outlook Forum February 23-24th.  This will be the trade’s first look at what the USDA feels the possible acreage mix for next year could be.

 

February 7, 2017