July 21, 2016

Corn

CBOT Prices Two Rivers Cash Bid Prices
Sep ‘16 334’2 -3’2 July ‘16 293’0 -4’0
Dec ‘16 340’6 -3’4 Aug ‘16 297’0 -3’0
Mar ‘17 350’2 -3’0      
May ‘17 356’0 -3’0 NC ‘16 296’0 -3’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Aug ‘16 1032’4 +5’4 July ‘16 967’0 +3’0
Sep ‘16 1025’4 +5’2      
Nov ‘16 1012’4 +3’4      
Jan ‘17 1012’6 +3’4 NC ‘16 942’0 +4’0

 

Another quiet day as corn makes new lows while beans & wheat were a touch higher.

Soybeans attempted to rebound but slipped back below the 100 day moving average at $10.16

US Gulf corn values are now trading at a 20 cent discount to Argentine corn.

Weekly exports were supportive for beans and wheat but below estimates for corn.

Old crop bean sales were 11.9 mb, wheat sales @ 11.9 mb and corn sales just 13.6 mb.

New crop sales include an additional 36.8 mb of beans and 19.9 mb of corn.

Weekly Drought Report showed just 5% of US corn & 6% of bean areas under drought.

IA’s heat index to reach 115 today; NWS 20 year record for DM @ 118 degrees on 7/26/98.

The last maker of the VCR will cut production at the end of July.  Amazon still has them for $50.

 

July 21, 2016