March 27, 2018

Corn

CBOT Prices Two Rivers Cash Bid Prices
Mar ‘18 374’0 Unch. Mar ‘18 323’0 Unch.
May ‘18 382’4 Unch. Apr ‘18 329’0 Unch.
Jul ‘18 389’0 Unch. May ‘18 331’0 Unch.
Dec ‘18 397’0 +0’2 NC ‘18 347’0 Unch.

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Mar ‘18 1019’4 -6’0 Mar ‘18 936’0 -6’0
May ‘18 1030’2 -6’2 Apr ‘18 943’0 -8’0
Jul ‘18 1032’4 -6’4 May ‘18 947’0 -9’0
Nov ‘18 1020’4 -5’0 NC ‘18 942’0 -5’0

 

Another quiet day in the commodity market circles as the market awaits Thursday’s report

The USDA will report their first initial estimates for acreage for 2018 on Thursday

Average estimates expect more soybean acres than corn acres for the first time ever

They will also release updated stocks for both but that’s expected to be largely disregarded

Weather models show some rain for Argentina in the 6-10 day models but may be too late to help

China looks willing to come to the table to discuss trade.  Maybe the tariffs imposed on them worked?

Recent rains in the Plains areas appeared to improve some wheat condition ratings in those states

They still have a long ways to go but at least the decline has stopped for now

La Nina conditions remain intact for now, which is still in line with most previous estimates

La Nina was predicted to disappear by May/June, not expected to hurt US production

 

March 27, 2018