May 1, 2018

Justin Huebner, Grain Division Manager Grain Commentary

Corn

CBOT Prices Two Rivers Cash Bid Prices
May ‘18 396’6 +4’2 May ‘18 356’0 +4’0
Jul ‘18 405’6 +5’0 June ‘18 357’0 +6’0
Sep ‘18 412’6 +5’2 July ‘18 357’0 +6’0
Dec ‘18 420’2 +4’2 NC ‘18 371’0 +4’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
May ‘18 1042’4 +4’6 May ‘18 971’0 +5’0
Jul ‘18 1053’2 +4’6 June ‘18 970’0 +4’0
Aug ‘18 1055’4 +4’6 July ‘18 970’0 +4’0
Nov ‘18 1050’4 +5’6 NC ‘18 971’0 +6’0

 

Corn and soybeans finished impressively higher today, particularly corn and soybean meal

Soymeal leading feed grains higher with uncertainty over Argentine soybean size & meal production

Argentina is a big player in the world soymeal market so the market is starting to take notice

Argentina will likely want to keep their world share, hence why they’ve bought US beans recently

The market is motivating the Argentine crusher to buy US soybeans by hiking up soymeal prices

With a rising US dollar and falling Arg peso, it makes buying US beans more of a challenge

The buying power of the peso for US beans has fallen 8% since February

Buy if you put profitability into the meal, the crushers there will buy beans undoubtedly

Chinese tariff negotiations continue to be reported as optimistic progress over key areas

Corn planting reported yesterday was at 17%, lower than expected and lower than 27% on average

Rain chances the next 5 days look to be exactly what the newly planted corn wants to see

May 1, 2018