January 26, 2016

Corn

CBOT Prices Two Rivers Cash Bid Prices
Mar ‘16 351’6 -0’4 Jan ‘16 340’0 -1’0
May ‘16 357’4 -0’2 Feb ‘16 342’0 Unch.
Jul ‘16 363’4 -0’2 Mar ‘16 343’0 Unch.
Sep ‘16 369’4 -1’0 Apr ‘16 346’0 Unch.

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Mar ‘16 876’4 -4’0 Jan ‘16 821’0 -4’0
May ‘16 878’4 -3’2 Feb ‘16 820’0 -4’0
Jul ‘16 884’0 -2’6 Mar ‘16 820’0 -4’0
Nov ‘16 887’4 -2’2 NC ‘16 813’0 -2’0

 

Wheat futures were at a 1-mo high, beans reject the 100 day MA and corn continues sideways.

Oil futures are rallying and thought to be supporting equities with the Dow up 282 points.

The correlation rate between WTI crude and the S&P 500 over the past month has been @ .97.

China corn/corn substitute imports for 2015 were a record 42.4 mmt, up 28% from 2014.

Analysts expect these imports to drop as much as 50% due to tightened restrictions/excess supply.

China stocks plunge to a 13 month low with the Shanghai Composite Index dropping 6.4%.

FOMC meeting begins today with comments to be released Wednesday @ 1:00 PM.

Since their Dec rate hike, the S&P has fallen 9.5% while crude has slumped 16%.

Morgan Stanley estimates financial conditions have tightened equal to 4 additional rate hikes.

USDA announced they will delay weekly export sales data until Friday due to the winter storm.

 

 

January 26, 2016