Corn
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| Jul ‘16 | 393’0 | -3’2 | June ‘16 | 343’0 | -3’0 |
| Sep ‘16 | 398’2 | -4’0 | July ‘16 | 348’0 | -3’0 |
| Dec ‘16 | 404’0 | -4’6 | Aug ‘16 | 353’0 | -3’0 |
| Mar ‘17 | 410’6 | -5’0 | NC ‘16 | 356’0 | -4’0 |
Soybeans
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| Jul ‘16 | 1137’4 | +4’2 | June ‘16 | 1057’0 | +6’0 |
| Aug ‘16 | 1137’2 | +4’6 | July ‘16 | 1057’0 | +6’0 |
| Sep ‘16 | 1123’6 | +6’0 | |||
| Nov ‘16 | 1116’6 | +6’0 | NC ‘16 | 1042’0 | +6’0 |
Higher markets led by soybeans as futures bounce back above the 20 day MA.;
Rumors of China buying 2-3 cargoes of old crop beans and 3-5 new crop, supportive.
Overnight rains across parts of IA & IL and most of IN into OH limiting corn strength.
NOAA 6-10 and 8-14 day maps show below-normal precip; temps normal to above.
Yesterday’s 5.7% drop in spot corn futures was the largest daily spot loss since 9/’13.
Funds sold roughly 48k contracts of corn yesterday; some think it was in excess of 80k.
Weekly ethanol production dropped 5% from LW, down 3.2% versus a year ago.
Ethanol stocks declines slightly, down .3% from LW but up 6.4% versus a year ago.
Corn consumption for ethanol estimated @ 101 mb, needs to average 96.1 mb to reach goal.
Ethanol margins for C IA ethanol plant running near 20 cents & best in over a year.
DOE also showed crude oil stocks falling .917 mln barrels, 5th consecutive weekly decline.
World braces for Brexit vote tomorrow; Bank of America expects a 10% drop in equities on yes vote.