July 18, 2016

Corn

CBOT Prices Two Rivers Cash Bid Prices
Sep ‘16 357’0 +4’6 July ‘16 316’0 +5’0
Dec ‘16 363’2 +5’0 Aug ‘16 319’0 +5’0
Mar ‘17 371’6 +5’4      
May ‘17 376’4 +6’0 NC ‘16 318’0 +5’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Aug ‘16 1078’2 +5’6 July ‘16 1021’0 +9’0
Sep ‘16 1075’0 +9’4      
Nov ‘16 1066’2 +9’0      
Jan ‘17 1065’0 +9’2 NC ‘16 995’0 +9’0

 

Grains rebounded with the hottest temps of the season expected this week.

Markets really turned after midday weather maps showed hotter, drier forecast. Got to love weather markets!

NOAA 6-10 & 8-14 maps show above temps and below precip for IA, MN, MO, KS and Dakotas.

Still, recent rains have gone a long ways in replenishing soil moisture and holding crop ratings.

Argentine truckers to begin an indefinite nationwide strike regarding freight rates.

Weekly inspections were solid @ 52.3 mb corn, 13.5 beans and 16.1 mb wheat.

Brazil’s export commitments are down 34% versus last year, USDA projects a 46% drop.

China’s COFCO & Chinatex announced plans to merge, positioning to compete with multi-nationals

Crop condition report for corn came in at 76% good/excellent, unchanged from last week & above 69% last year

Soybean condition ratings came in at 71% good/excellent, the same as last week but above 62% last year

Weather markets continue to dominate direction on an hourly basis

July 18, 2016