July 30, 2015

Justin Huebner, Grain Division Manager Grain Commentary

Corn

CBOT Prices Two Rivers Cash Bid Prices
Sep ‘15 373’2 +5’4 July ‘15 343’0 +7’0
Dec ‘15 383’6 +5’4 Aug ‘15 343’0 +7’0
Mar ‘16 394’6 +5’6 FH Sep ‘15 343’0 +7’0
May ‘16 401’0 +5’4 NC ‘15 338’0 +6’0

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Aug ‘15 990’2 +7’2 July ‘15 959’0 +10’0
Sep ‘15 964’4 +7’4 Aug ‘15 946’0 +7’0
Nov ‘15 950’0 +6’6      
Jan ‘16 955’2 +6’4 NC ‘15 880’0 +7’0
  • Higher markets with beans leading the way early on solid export sales.
  • Exports were supportive for beans with 15.3 mb old and 33 mb new crop; China main buyer.
  • Corn sales disappointing @ 14.4 mb and new crop @ 17.5 mb; wheat @ 25.7 mb.
  • Soybean sales exceed last year’s pace by 186 mb vs USDA forecasting a final gain of 178 mb.
  • Corn sales trail last year’s pace by 59 mb vs the USDA forecasting a final decline of 67 mb.
  • Soybeans looking better technically as 50 day crosses above the 100 day ma this week.
  • USDA announced the sale of 140,000 mt of new crop US beans to unknown buyer.
  • Cash markets continue to firm on the lack of cash selling; bean spread continue firming.
  • Crude has turned higher; Saudi Arabia noting lower production because of slowing demand.
  • Fed comments yesterday were bullish the job market but slow inflation worrisome.
  • Aussie weather bureau sees unseasonably dry conditions in the SE, risk for winter crops.
  • First Notice Day for August beans is tomorrow with longs reported today after the close.
July 30, 2015