June 16, 2016

Corn

CBOT Prices Two Rivers Cash Bid Prices
Jul ‘16 425’2 -3’6 June ‘16 375’0 -4’0
Sep ‘16 430’4 -3’4 July ‘16 380’0 -4’0
Dec ‘16 435’6 -3’6 Aug ‘16 385’0 -4’0
Mar ‘17 440’6 -3’6 NC ‘16 387’0 -4’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Jul ‘16 1134’4 -21’4 June ‘16 1059’0 -19’0
Aug ‘16 1133’4 -21’4 July ‘16 1059’0 -19’0
Sep ‘16 1123’6 -21’2      
Nov ‘16 1119’2 -19’2 NC ‘16 1044’0 -19’0

 

Lower markets but corn and beans both bounced off the day’s lows

Equities turned higher in the afternoon, the dollar was higher and crude got hammered

Gold bounced to a 2 year high today as investors have fled to safety

Much of the weakness in equities has been attributed to the Brexit vote, one week from today.

NOAA 1 and 3 month maps today showed an equal chance of above or below normal precip.

Weekly drought monitor showed abnormally dry conditions from SW MO into SE IA, IL and IN.

Weekly export sales were large beans @ 30 mb; corn ok @ 35.8 & wheat 28 mb.

Corn is now ahead of last year’s pace on export sales, by 38 million bushels

Yesterday’s NOPA crush report topped guesses and came in at a record for May @ 152.8 mb.

Headlines suggest Brazil’s ag ministry looking to import US GMO corn to ease shortages.

Campaigns “for” & “against” Brexit on hold following the shooting of a parliament member.

 

June 16, 2016