January 11, 2016

Corn

CBOT Prices Two Rivers Cash Bid Prices
Mar ‘16 351’6 -5’2 Jan ‘16 323’0 -5’0
May ‘16 357’4 -5’2 Feb ‘16 325’0 -5’0
Jul ‘16 363’4 -5’4 Mar ‘16 325’0 -5’0
Sep ‘16 369’4 -5’2 Apr ‘16 330’0 -5’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Jan ‘16 881’0 +1’4 Jan ‘16 810’0 -4’0
Mar ‘16 861’2 -4’0 Feb ‘16 805’0 -4’0
May ‘16 864’0 -4’0 Mar ‘16 805’0 -4’0
Jul ‘16 870’2 -4’4      

 

We saw no pre-report, short-covering rally today. The bearish news remained the same for grains, and oil

News revolves around China as the Shanghai Composite stock market dropped another 5.3%.

Crude oil continued to struggle, making fresh contract lows; Feb traded as low as $30.88.

South American weather remains bearish as dry areas get rains while the wet regions dry out.

The dry regions of South Africa will also get some needed relief over the next 10 days.

Friday’s Commitment Of Traders report showed the funds were net sellers of 25k corn & 16k beans.

Friday’s report showed funds short -162k corn, -80k beans and -96k wheat (as of 1/5).

Weekly export inspections for beans @ 45.7 mb, corn @ 21.7 and wheat @ 14.5 mb.

Overnight export news includes the sale of 120,000 mt of beans to China & 248,000 mt to unknown.

The USDA also announced the sale of 152,400 corn to an unknown buyer, (also 2015/16 delivery).

Baker Hughes data shows the US oil rig count dropping to 516, down 20 from last week.

 

January 11, 2016