June 6, 2016

Corn

CBOT Prices Two Rivers Cash Bid Prices
Jul ‘16 427’2 +9’0 June ‘16 382’0 +9’0
Sep ‘16 429’0 +9’2 July ‘16 384’0 +9’0
Dec ‘16 430’0 +10’2 Aug ‘16 387’0 +9’0
Mar ‘17 435’6 +9’6 NC ‘16 382’0 +11’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Jul ‘16 1138’2 +6’2 June ‘16 1055’0 +6’0
Aug ‘16 1133’4 +11’4 July ‘16 1055’0 +6’0
Sep ‘16 1118’0 +16’6      
Nov ‘16 1105’6 +20’4 NC ‘16 1035’0 +21’0

 

New highs for the move with Dec corn gapping higher & at the highest level since July.

Nearby beans approached Friday’s high but unable to push through

Talk of hot temps supportive with NOAA’s 6-10 and 8-14 maps well above normal.

The weather bulls are “quick to jump”, ready to join the party on La Nina concerns.

The outside markets are also supportive with crude oil holding steady and equities rallying.

IL bean processors are softer today; Friday we saw bids switch to SQ and SX.

Overnight export news included 125,000 tons of new crop US beans sold to unknown buyer.

Weekly corn inspections solid @ 42 mb; beans @ 3.6 and wheat @ 14.3 mb.

YTD inspections for corn @ 29.48 mb (-9.7% vs LY); beans @ 43.5 mb (-13.4%).

FL residents bracing for Tropical Storm Colin, earliest 3rd named storm in Atlantic history.

Corn planting is essentially complete now. Conditions at 75% good/excellent vs. 74% last year

The first soybean ratings of the year were at 72% good/excellent vs. 69% last year

 

June 6, 2016