January 15, 2016

Corn

CBOT Prices Two Rivers Cash Bid Prices
Mar ‘16 363’2 +5’2 Jan ‘16 334’0 +5’0
May ‘16 367’4 +4’6 Feb ‘16 336’0 +5’0
Jul ‘16 372’6 +4’4 Mar ‘16 336’0 +5’0
Sep ‘16 377’4 +3’4 Apr ‘16 339’0 +5’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Jan ‘16 879’0 -3’2 Jan ‘16 828’0 -3’0
Mar ‘16 878’6 -4’2 Feb ‘16 823’0 -3’0
May ‘16 883’6 -4’4 Mar ‘16 823’0 -3’0
Jul ‘16 885’4 -4’2      

 

Corn and wheat holding very well considering the negative outside news; beans were 3 cents lower

March corn is back above the 20 day MA while SX falls below all major moving averages but held 8.80 support.

Corn and wheat finding some short-covering ahead of today’s COT report; also, sharp losses in the dollar.

Another bearish day for the financials as both China and now Europe have entered into a bear market.

The Dow was down another 390 points today, having over 1900 points since Dec 1 or 11% of its value.

Crude oil continues to erode, down another 5% and closed @ a fresh, 12 year low.

Dec NOPA crush came in @ 157.7 mb, very near the average estimate of 157.8 mb and 156.1 in Nov.

BA Exch increases Arg’s corn plantings from 2.85 mln ha to 3.1 mln ha; likely due to relaxed export policy.

SA weather is turning a tad friendly as a drier trend is now in store for Paraguay and S Brazil.

A turkey farm in Indiana has been infected with the H7N8 strain of Bird Flu; flock to be destroyed.

This is the first US report of Bird Flu since last June when a different strain destroyed 48 mln birds.

We are hosting a crop insurance and grain marketing meeting with Eric Sorensen and Alan Brugler on Wednesday, January 20th at 11:30am in the Pella office.  Please RSVP so we can plan food accordingly

 

January 15, 2016