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 |
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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