July 21, 2015

Justin Huebner, Grain Division Manager Grain Commentary

Corn

CBOT Prices Two Rivers Cash Bid Prices
Sep ‘15 406’4 +1’4 July ‘15 367’0 +5’0
Dec ‘15 417’4 +1’4 Aug ‘15 367’0 +5’0
Mar ‘16 427’6 +1’4 FH Sep ‘15 368’0 +2’0
May ‘16 433’6 +1’4 NC ‘15 371’0 +1’0

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Aug ‘15 1018’6 +11’0 July ‘15 979’0 +11’0
Sep ‘15 1006’4 +8’2 Aug ‘15 973’0 +11’0
Nov ‘15 1004’6 +5’2      
Jan ‘16 1010’6 +5’2 NC ‘15 935’0 +5’0
  • Corn and beans are higher as weekly crop ratings remain unchanged.
  • Nice to see corn find some strength after hitting a fresh, 3-week low this AM.
  • Meanwhile, wheat continues lower due to large global supply and demand uncertainties.
  • Corn and bean basis firming again this morning as farmer selling reenters hibernation.
  • USDA announced the sale of 110 kmt of new crop beans sold to unknown destination.
  • 6-10 day forecast shows more precip for the WCB; above normal temps but cooler.
  • 8-14 day forecast shows more precip for IL and WI while heat remains normal.
  • Crude oil found support near $50 with some analysts predicting crude stocks to fall.
  • El Nino strengthening and will most likely persist into the next year.
  • For ARG and S Brazil, this means more rain and warm temps; drought in N Brazil.
  • NOAA states Jan-June 2015 the warmest land/sea surface temps on record.
July 21, 2015