June 30, 2016

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