January 19, 2016

Corn

CBOT Prices Two Rivers Cash Bid Prices
Mar ‘16 367’6 +4’4 Jan ‘16 339’0 +4’0
May ‘16 372’0 +4’4 Feb ‘16 341’0 +4’0
Jul ‘16 377’0 +4’2 Mar ‘16 341’0 +4’0
Sep ‘16 381’6 +4’2 Apr ‘16 343’0 +4’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Jan ‘16 883’4 +4’4 Jan ‘16 833’0 +4’0
Mar ‘16 883’0 +4’2 Feb ‘16 827’0 +4’0
May ‘16 888’0 +4’2 Mar ‘16 827’0 +4’0
Jul ‘16 889’0 +3’4      

 

China reported 4th Q GDP of 6.8%, weakest in 25 years but better than some had feared.

China to inject the $91 billion to help stabilize their economy; commodities & equities cheer.

Turning tech positive for corn and beans with Mar corn above the 50 and Mar beans right at the 100 day MA.

Heavy rains this week for Brazil to help later crops but also delay harvest.

Mato Grosso early bean yields coming in below estimates also supporting.

USDA announced the sale of 110 kmt of corn sold to unknown destination for 2015/16.

Informa lowered 2016 US corn plantings to 88.869 ma from 88.926.

Meanwhile, Informa raised bean acres from 84.537 to 85.23 million.

Weekly export inspections came in above estimates for beans & at the top for corn.

Bean inspections came in @ 51.3 mb, corn @ 22.9 mb and wheat @ 12.5 mb.

Brazil’s Agroconsult cut their soy production estimate from 100.6 to 99.2 mmt.

They also cut 1st season corn production from 28.5 to 27.9 mmt, citing weather concerns.

9 more turkey farms in IN tested positive for bird flu following Friday’s 1st announcement in 6 mo.

January 19, 2016