Corn
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| Sep ‘15 | 392’4 | -10’6 | July ‘15 | 357’0 | -10’0 |
| Dec ‘15 | 402’6 | -11’0 | Aug ‘15 | 357’0 | -10’0 |
| Mar ‘16 | 412’6 | -10’6 | FH Sep ‘15 | 354’0 | -10’0 |
| May ‘16 | 418’2 | -11’0 | NC ‘15 | 356’0 | -11’0 |
Soybeans
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| Aug ‘15 | 991’2 | -18’6 | July ‘15 | 957’0 | -11’0 |
| Sep ‘15 | 967’2 | -19’0 | Aug ‘15 | 950’0 | -13’0 |
| Nov ‘15 | 965’0 | -15’4 | |||
| Jan ‘16 | 970’6 | -15’4 | NC ‘15 | 895’0 | -15’0 |
- The sharply lower trend continues with grains losing additional weather premium.
- Improving crop, stronger dollar, poor China economic news and fund liquidation all negative.
- Cash rumor today suggests 8-10 cargo loads of Brazilian corn has been sold into Wilmington, NC for Aug-Dec
- Gold @ 5.5-yr low, copper @ 6-yr low, platinum @ 6.5-yr low; general commodity weakness continues.
- Equities in China finish lower after manufacturing data came in at a 15 month low.
- Export demand has been improving this week as US values become competitive.
- USDA announced another 220 kmt of new crop US beans were sold to China.
- Weekly total of 520 kmt of new crop beans to China plus another 110 kmt to unknown.
- USDA announced 231 kmt of corn to Mexico, 104 kmt wheat to Taiwan and 116 kmt sorghum to unknown.
- Cattle on Feed later @ 101.9% of last year; placements @ 100.9% and marketings 94.6% of LY. Bearish numbers
- Commitment of Traders report showed funds bought 72,496 corn contracts, now at 247,791 long
- Bean purchases of 8,870 contracts, now at 82,379 long
- Both corn and bean long positions quite a bit more longer than the trade anticipated
- Could help provide some support Sunday evening
July 23, 2015
