March 29, 2018

Corn

CBOT Prices Two Rivers Cash Bid Prices
Mar ‘18 387’6 +14’2 Mar ‘18 337’0 +14’0
May ‘18 396’2 +14’0 Apr ‘18 338’0 +9’0
Jul ‘18 403’2 +14’2 May ‘18 344’0 +13’0
Dec ‘18 411’4 +14’4 NC ‘18 362’0 +13’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Mar ‘18 1044’6 +26’6 Mar ‘18 955’0 +27’0
May ‘18 1055’4 +26’6 Apr ‘18 960’0 +27’0
Jul ‘18 1058’0 +27’4 May ‘18 963’0 +27’0
Nov ‘18 1047’6 +31’2 NC ‘18 964’0 +31’0

 

Markets jumped immediately following the release of the USDA acreage numbers

Corn acres were at 88 million vs average trade estimates of 89.42 and 90.167 last year

Soybean acres were at 89 million vs average trade estimates of 91.06 and 90.142 last year

All wheat acres were at 47.3 million vs average trade estimates of 46.3 and 46.012 last year

Corn stocks were at 8.888 billion bushels vs 8.703 average trade estimate and 8.622 last year

Soybeans were at 2.107 billion bushels vs 2.030 average trade estimate and 1.739 last year

Iowa total acreage is projected to be down 196,000 acres from last year

There’s plenty of questioning of acre totals as it’s rare to get a decrease in acres

But these are the numbers the market will use in projections until we get hard planting data

Now we will start to trade US weather since we’re past the big report everyone was watching

March 29, 2018