Corn
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| Mar ‘16 | 365’4 | -3’6 | Jan ‘16 | 338’0 | -2’0 |
| May ‘16 | 370’4 | -4’0 | Feb ‘16 | 339’0 | -3’0 |
| Jul ‘16 | 375’2 | -3’6 | Mar ‘16 | 339’0 | -4’0 |
| Dec ‘16 | 387’4 | -3’4 | NC ‘16 | 339’0 | -3’0 |
Soybeans
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| Mar ‘16 | 867’6 | -15’2 | Jan ‘16 | 812’0 | -15’0 |
| May ‘16 | 870’4 | -14’6 | Feb ‘16 | 811’0 | -15’0 |
| Jul ‘16 | 876’2 | -14’6 | Mar ‘16 | 811’0 | -15’0 |
| Nov ‘16 | 878’0 | -14’6 | NC ‘16 | 805’0 | -14’0 |
Soybean futures rattled on the announcement that China cancelled 395,000 tons of beans
China cancels every year South America has a large crop but panicked the markets anyway
Corn was pressured on news China booked corn from Ukraine
This undercut U.S. efforts to reduce the large carryout we’re currently facing
The deputy director announced the idea of cutting reserve purchase prices for corn by 20%
This would translate to corn there about $6.15/bu and becomes more competitive to imports
However, this still leaves corn there about 50 cents higher than imported corn values
Potash Corp lowered profit forecasts on low commodity prices and weak world currencies
Beans pressured on improving South American weather, export cancellations, and technicals
Wheat drug corn lower on the removal of Russian export taxes
Crude was higher and the dollar lower, but did nothing to support grains