January 14, 2016

Corn

CBOT Prices Two Rivers Cash Bid Prices
Mar ‘16 358’0 Unch. Jan ‘16 329’0 Unch.
May ‘16 368’2 -0’6 Feb ‘16 331’0 Unch.
Jul ‘16 374’0 -1’0 Mar ‘16 331’0 Unch.
Sep ‘16 382’0 -1’0 Apr ‘16 334’0 Unch.

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Jan ‘16 896’0 -3’0 Jan ‘16 831’0 +2’0
Mar ‘16 882’2 +2’2 Feb ‘16 826’0 +2’0
May ‘16 883’0 +1’2 Mar ‘16 826’0 +2’0
Jul ‘16 888’2 +0’6      

 

Mixed markets with selling pressure versus wheat and Jan beans.

Wheat continues to find pressure due to plentiful world supplies and the strong dollar.

Weekly exports improving for corn @ 26.4 mb; beans @ 41.4 and wheat 10 mb.

The USDA also announced the sale of 102 kmt of US corn sold to Mexico for 2015/16.

Midday weather maps are reinforcing the idea of a drier trend for Brazil next week.

Brent crude fell below $30 for the first time since 2004; WTI now showing 50 cent gain.

Higher crude may be supporting equities as the Dow is up 175 points.  Can it hold?

St Louis Fed Pres said today that oil move has “very substantial” implications for monetary policy.

He went on to state that low prices will have a net positive effect on the US economy.

Weekly jobless claims of 284K was considered mostly neutral with trade anticipating 275k.

 

January 14, 2016