January 25, 2016

Corn

CBOT Prices Two Rivers Cash Bid Prices
Mar ‘16 369’6 -0’4 Jan ‘16 341’0 Unch.
May ‘16 374’6 Unch. Feb ‘16 342’0 -1’0
Jul ‘16 380’0 +0’2 Mar ‘16 343’0 Unch.
Sep ‘16 385’0 +0’4 Apr ‘16 346’0 Unch.

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Jan ‘16 880’4 +4’0 Jan ‘16 825’0 +4’0
Mar ‘16 881’6 +4’4 Feb ‘16 824’0 +4’0
May ‘16 886’6 +4’6 Mar ‘16 824’0 +4’0
Jul ‘16 888’2 +5’0      

 

Mixed markets with wheat higher, beans higher and corn steady.

The outside markets are negative with the Dow down 208 pts, crude lower as well

Export inspections for beans @ 44 mb, corn @ 23.6 and wheat just 6.9 mb.

YTD inspections for beans @ 1162 mb vs 1314 mb LY; corn @ 442.3 vs 563 mb LY.

China announces they will let the market determine price of corn; eliminate price support.

Corn basis in Cedar Rapids softer today on the spot market but firmed 1-2 cents for Feb.

Cattle on Feed report was bearish placements @ 99% of LY vs expectations of 94.7%.

On feed came in @ 100% vs 98.8% expected; marketings @ 101 vs 101.8% expected.

Weekly COT report showed the funds short 158K corn vs -186K the previous report.

The same report showed funds -70k wheat (-71K previously); beans @ -26k (-53K previous).

Drought hit S Africa to issue 1st corn estimate on Wed with avg guess @ 6.86 mmt.

 

January 25, 2016