June 23, 2016

Corn

CBOT Prices Two Rivers Cash Bid Prices
Jul ‘16 387’2 -5’6 June ‘16 342’0 -1’0
Sep ‘16 392’4 -5’6 July ‘16 347’0 -1’0
Dec ‘16 397’6 -6’2 Aug ‘16 352’0 -1’0
Mar ‘17 405’2 -5’4 NC ‘16 349’0 -7’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Jul ‘16 1124’4 -13’0 June ‘16 1041’0 -16’0
Aug ‘16 1123’4 -13’6 July ‘16 1041’0 -16’0
Sep ‘16 1109’0 -14’6      
Nov ‘16 1101’4 -15’2 NC ‘16 1026’0 -16’0

 

Corn continues to struggle due to favorable weather and anticipation of the UK vote to leave the EU

Corn found support @ the 100 day MA bu still down 50 cents on the week

Awaiting Brexit vote late tonight, overnight market reactions and strength of the British pound support staying

July options will expire tomorrow, June 24

Good numbers again for corn & soybean export sales, exceeding USDA estimates; wheat sales lack due to large world oversupply

New crop soybean sales have finally exceeded last year’s sales – YOY

China remains good buyers of beans due to Chinese crush margin improvement

US weather outlook suggests cooler than normal temps to end June & start July

Latest drought map shows some abnormal dryness in Corn Belt, but this week’s rain event not factored in

DuPont and Bayer have launched a fund that will back agricultural technology start-up companies, although farm profits are shrinking

US wheat shipment rejected by Egypt due to long-standing prosecutor order prohibiting ANY ergot in imported wheat

June 23, 2016