July 11, 2016

Corn

CBOT Prices Two Rivers Cash Bid Prices
Jul ‘16 343’6 -6’0 July ‘16 311’0 -1’0
Sep ‘16 348’2 -6’6 Aug ‘16 310’0 -1’0
Dec ‘16 355’4 -7’0      
Mar ‘17 364’0 -6’4 NC ‘16 308’0 -7’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Jul ‘16 1082’6 -7’0 July ‘16 1008’0 -3’0
Aug ‘16 1077’0 -6’2      
Sep ‘16 1063’4 -5’0      
Nov ‘16 1055’0 -2’6 NC ‘16 984’0 -3’0

 

Fresh news was limited today, focusing primarily on the weather forecasts

 

Soybean market added weather premium as forecasts predicting ridge moving into W/SW corn belt at end of this week, bringing very high temps and dry conditions

 

This forecast added more moisture in the midday models, but afternoon models still look hot, dry

 

Russia is expected to ship large wheat supplies into China during the Fall as new crop is harvested

 

Citigroup is bullish for commodities in 16/17, as shock from Brexit disappears

 

USDA Export Inspection numbers corn 53.46 mb, soybeans 13.74 mb, & wheat 13.79 mb, with soybeans well on track to meet USDA estimate

 

Crop conditions gained 1% in corn to 76% good/excellent vs. 69% last year and 64.2% on average

 

Soybean conditions gained 1% to 71% good/excellent vs. 63% last year and 61.6% on average

 

USDA reports that in last 25 yrs. US grain & feed exports to free trade agreement  countries have grown by 15%

 

July 11, 2016