Corn
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| Jul ‘16 | 358’6 | -14’0 | June ‘16 | 315’0 | -13’0 |
| Sep ‘16 | 365’4 | -12’2 | July ‘16 | 315’0 | -18’0 |
| Dec ‘16 | 371’2 | -11’6 | Aug ‘16 | 319’0 | -21’0 |
| Mar ‘17 | 379’4 | -10’6 | NC ‘16 | 323’0 | -12’0 |
Soybeans
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| Jul ‘16 | 1175’0 | +30’4 | June ‘16 | 1103’0 | +41’0 |
| Aug ‘16 | 1174’2 | +33’6 | July ‘16 | 1103’0 | +41’0 |
| Sep ‘16 | 1162’2 | +39’2 | |||
| Nov ‘16 | 1153’2 | +40’6 | NC ‘16 | 1078’0 | +41’0 |
USDA est US 2016 soybean acres less than the ave guess. Nov beans were up 40 cents. USDA
also est June 1 soybean stocks more than expected. Soybean market may need to
add a weather and demand premium given fact acres are less than hoped
USDA est US 2016 corn acres more than expected and stocks higher than expected.
December corn was down 12 cents. Corn prices could take some supply premium out of prices given higher June 1 stocks and higher acre.
USDA 2016 US planted acreage (Mil Acres)
USDA June Ave Trade Trade
Crop 2015 March USDA Estimate Range
Corn 88.00 93.60 94.1 92.90 92.00 – 94.00
Soybeans 82.65 82.24 83.7 83.83 82.10 – 85.70
All Wheat 54.64 49.56 50.8 49.87 48.80 – 53.92
Other Spring 13.25 11.35 12.1 11.71 11.00 – 13.35
Durum 1.94 2.00 2.1 1.98 1.80 – 2.10
All Cotton 8.58 9.56 10.2 9.54 9.30 – 9.75
USDA June 1, 2016, Grain & Soybean stocks (Mil Bu)
June Ave Trade Trade
Crop 2015 USDA Estimate Range
Corn 4,453 4,722 4,528 4,437 – 4,650
Soybeans 627 870 829 775 – 862
Wheat 752 981 982 953 – 1,000