July 22, 2015

Corn

CBOT Prices Two Rivers Cash Bid Prices
Sep ‘15 403’2 +0’4 July ‘15 367’0 +1’0
Dec ‘15 413’6 +0’2 Aug ‘15 367’0 +1’0
Mar ‘16 423’4 Unch. FH Sep ‘15 364’0 Unch.
May ‘16 429’2 Unch. NC ‘15 367’0 Unch.

Corn prices hung in there nicely today despite soybeans’ lackluster performance. Helping corn higher
was wheat finally breaking a 12 day streak of lower prices, closing 4 cents higher for the day. The
outside markets were mixed with the dollar lower, crude oil lower, gold higher, and the stock market
closing with 119 point losses in the Dow.

Export sales released this morning showed 21.1 million bushels sold for both old and new crop
combined. The estimates were from 21.6-37.4 million. Private analysts were releasing some updated
production and yield estimates, and most of them were in the 163-164 bu/ac area. Some northern
western corn belt areas are starting to get a bit on the dry side and in need of a rain, which it looks like
they will get in the near-term forecast, but not as much as what has been forecast in past days.

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Aug ‘15 1010’0 -10’6 July ‘15 977’0 -11’0
Sep ‘15 986’2 -13’2 Aug ‘15 970’0 -13’0
Nov ‘15 980’4 -15’0      
Jan ‘16 986’2 -14’6 NC ‘15 911’0 -15’0

Soybeans was the big loser today with product values (soymeal and soy oil) dragging prices down.
There was some international business being done not in the U.S. in the soybean complex, and that
hurt soy prices in the end. That may start to slow if the Brazilian Real continues its downward trend.
Soybeans in Reals is around $16/bushel while beans in U.S. Dollars is around $10/bushel.

Export sales were on the low side of expectations at 11.9 million bushels for old and new crops
combined. The USDA announced the sales of 180,000 tons of new crop to China and 40,000 tons of old
crop soyoil to Venezuela. Private yield forecasts (46-48 bu/ac) pushed prices lower from the start.

July 22, 2015