Corn
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| May ‘19 | 356’4 | -17’4 | Mar ‘19 | 321’0 | -17’0 |
| Jul ‘19 | 366’2 | -17’4 | Apr ‘19 | 320’0 | -17’0 |
| Sep ‘19 | 375’0 | -16’0 | May ’19 | 320’0 | -17’0 |
| Dec ‘19 | 384’6 | -13’4 | NC ‘19 | 335’0 | -13’0 |
Soybeans
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| May ‘19 | 884’2 | -5’2 | Mar ‘19 | 799’0 | -6’0 |
| July ‘19 | 897’6 | -5’2 | Apr ‘19 | 800’0 | -6’0 |
| Aug ‘19 | 904’0 | -5’0 | May ’19 | 800’0 | -6’0 |
| Nov ‘19 | 919’0 | -4’6 | NC ‘19 | 829’0 | -5’0 |
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The USDA released their monthly stocks report today and it certainly was a bearish one
Corn stocks was pegged at 8.605 billion bushels vs 8.335 average estimates
Soybean stocks was pegged at 2.716 billion bushels vs 2.683 average estimates
Wheat stocks was pegged at 1.591 billion bushels vs 1.555 average estimates
Projected corn acres were pegged at 92.792 million acres vs 91.332 average estimates
Soybean acres were projected at 84.617 million acres vs 86.169 million acres
Wheat acres were projected at 45.751 million acres vs 46.915 million acres
The key is that these surveys were conducted early March before weather events unfolded
It looks like the corn acres will be high when considering flooding in so many Midwest states
One of the few factors that the bulls in the market are holding onto is the huge fund short position
Funds will not want to carry huge short positions going into our growing season