January 22, 2016

Justin Huebner, Grain Division Manager Grain Commentary

Corn

CBOT Prices Two Rivers Cash Bid Prices
Mar ‘16 370’2 +3’2 Jan ‘16 341’0 +3’0
May ‘16 374’6 +3’0 Feb ‘16 343’0 +3’0
Jul ‘16 379’6 +3’0 Mar ‘16 343’0 +3’0
Sep ‘16 384’4 +3’2 Apr ‘16 346’0 +3’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Jan ‘16 876’4 -2’0 Jan ‘16 821’0 -2’0
Mar ‘16 877’2 -1’6 Feb ‘16 820’0 -2’0
May ‘16 882’0 -2’2 Mar ‘16 820’0 -2’0
Jul ‘16 883’2 -2’4      

 

Nervous markets with corn and beans losing strength, after failing near this week’s high.

Oil rallies sharply, largest 2-day jump in 5 months; equities celebrate the move.

Weekly exports were supportive for both corn and beans @ 45.5 and 36.2 mb.

Wheat sales were within est @ 13.3 mb; corn sales were the 3rd largest this mkt year.

Corn sales lag needed pace, year to date total just 52% of goal, should be closer to 65%.

Bean sales right on pace @ 87.2% of goal versus the recent average @ 87.8%.

US home sales rebounded in November bringing 2015 sales to a 9-yr high.

Sales of existing homes climbed 14.7% in Dec, seasonally adjusted sales of 5.46 mln.

 

January 22, 2016