March 30, 2016

Corn

CBOT Prices Two Rivers Cash Bid Prices
Mar ‘16 367’0 -6’0 Mar ‘16 339’0 -6’0
May ‘16 371’4 -5’6 Apr ‘16 339’0 -6’0
Jul ‘16 376’0 -5’6 May ‘16 339’0 -6’0
Dec ‘16 384’0 -5’4 NC ‘16 336’0 -5’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Mar ‘16 909’0 -7’0 Mar ‘16 849’0 -7’0
May ‘16 916’2 -6’4 Apr ‘16 849’0 -7’0
Jul ‘16 918’4 -6’2 May ‘16 849’0 -7’0
Nov ‘16 923’0 -5’4 NC ‘16 853’0 -6’0

 

The grain markets turned softer ahead of tomorrow’s acreage and stocks reports.

Today’s weakness led by wheat as showers and thunderstorms develop across the W & S Plains.

Last night, SX to a fresh, 7-mo high; corn closed above the 100 day MA for 1st time in months Tue.

Dollar is pressured following Yellen comments to “proceed cautiously” regarding rate hikes.

Crude oil higher but off the highs support from weaker dollar & US production continuing to drop.

US oil production has dropped 9 of the last 10 weeks & now at the lowest level since 2014.

Weekly ethanol production dropped .3% from last week but up 4.2% from a year ago.

Ethanol stocks near an all-time high @ 23.022 mln brls, up 2.3% from LW & up 12.1% from LY.

Corn consumption for ethanol estimated @ 104.13 mb, needing to avg 97.4 mb to reach goal.

Report is due out at 11am tomorrow. 3 of the last 5 March reports resulted in a limit corn move

March 30, 2016