March 23, 2016

Corn

CBOT Prices Two Rivers Cash Bid Prices
Mar ‘16 368’4 -1’4 Mar ‘16 337’0 -1’0
May ‘16 373’2 -1’4 Apr ‘16 339’0 -4’0
Jul ‘16 377’6 -2’0 May ‘16 341’0 -3’0
Dec ‘16 386’0 -1’6 NC ‘16 338’0 -1’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Mar ‘16 905’2 -5’0 Mar ‘16 842’0 -7’0
May ‘16 912’2 -4’6 Apr ‘16 842’0 -12’0
Jul ‘16 914’2 -4’6 May ‘16 842’0 -12’0
Nov ‘16 917’2 -4’6 NC ‘16 847’0 -5’0

 

Lower markets today as the recent fund buying seems to be drying up; soybeans down a nickel.

Malaysian palm oil lower, first time in over a week; also, talk of Chinese cancellations of SA beans. Funds were active buyers of 10k beans & 4-5k contracts of corn and wheat on Tuesday.

A better chance of moisture for the central Plains weighing on wheat; active Midwest pattern begins.

Heavy snowfall for northern IA and S MN and eastward through Maine with 6” to as much as 18” poss.

NOAA’s 6-10 and 8-14 day maps are telling us the groundhog was wrong: colder than normal & wet.

Blizzard warnings in effect for E CO and S WY while winter storm warnings are extending NE from there.

Weekly ethanol report showed production down .4% from LW, up 4.4% from a year ago.

Ethanol stocks dropped 1.46% from a week ago, up 5.6% from a year ago; C IA eth margins near 8 cent loss.

Corn consumption estimated @ 104.4 mb, needing to average 97.7 mb to reach USDA objective.

Crude oil under pressure following weekly EIA report showed a 9.3 mb build vs 3.9 exp.

Crude was lower prior EIA, thoughts the April 17 OPEC meeting to freeze output is meaningless.

France has a suspected case of mad cow disease; if confirmed would be the first case since 2004.

March 23, 2016