Corn
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| May ‘19 | 342’4 | -2’0 | May ‘19 | 317’0 | -1’0 |
| Jul ‘19 | 351’6 | -1’4 | June ’19 | 315’0 | -1’0 |
| Sep ‘19 | 361’0 | -1’0 | July ‘19 | 312’0 | -1’0 |
| Dec ‘19 | 372’0 | -0’6 | NC ‘19 | 322’0 | -1’0 |
Soybeans
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| May ‘19 | 797’0 | -3’2 | May ‘19 | 723’0 | -4’0 |
| July ‘19 | 809’2 | -3’4 | June ’19 | 721’0 | -4’0 |
| Aug ‘19 | 815’6 | -3’6 | July ‘19 | 718’0 | -4’0 |
| Nov ‘19 | 833’2 | -2’4 | NC ‘19 | 743’0 | -3’0 |
Markets lower today but bounced off the lows following the release of the supply & demand report
The USDA released their first projections for 2019 crop today
They put corn acres at 92.8 million and used a trendline yield of 176 bu/ac
This is compared to 89.1 million acres and 176.4 bu/ac used for the 2018 crop
Ethanol and feed demand is projected to be higher than 2018 but exports seen lower than 2018
Final carryout bushels were pegged at 2.485 billion bushels with $3.30-3.70 average farm price
Brazilian corn production was hiked 4 million tonnes and Argentine production was hiked 2 million
Soybean acres were at 84.6 million and used trendline yields of 49.5 bu/ac
This is compared to 89.2 million acres and 51.6 bu/ac for the 2018 crop
Domestic crush and export demands were seen higher than 2018
They projected carryouts to fall vs 2018 to 970 million bushels