May 11, 2016

Corn

CBOT Prices Two Rivers Cash Bid Prices
May ‘16 374’0 -4’4 May ‘16 337’0 -3’0
Jul ‘16 377’4 -3’4 June ‘16 338’0 -3’0
Sep ‘16 380’2 -2’4 July ‘16 340’0 -3’0
Dec ‘16 385’4 -2’2 NC ‘16 338’0 -2’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
May ‘16 1069’6 -6’2 May ‘16 998’0 -6’0
Jul ‘16 1078’2 -5’6 June ‘16 998’0 -6’0
Aug ‘16 1080’2 -5’2 July ‘16 1003’0 -6’0
Nov ‘16 1066’0 -1’4 NC ‘16 995’0 2’0

 

Small losses today following yesterday’s big moves; crude oil supportive.

Crude turned from lower to sharply higher as US production fell by 23k bpd last week.

API report showed US oil stocks dropped by 3.4 mln barrels vs trade expecting a build.

The dollar index is under pressure for the 1st time in 7 sessions, down .5% from yesterday.

Brazilian real is sharply higher as the presidential impeachment process is back on the table.

CME is expanding margin requirements for specs trading beans by 15% and meal by 12.5%.

Weekly ethanol production rose 4.2% last week, rose 5.5% from last year.

Ethanol stocks dropped 4.3% from a week ago but up 4.7% versus last year.

Corn consumption est @ 101 mb, needing to average 98.3 mb to reach goal.

USDA announced 30,000 mt of old-crop soyoil to unknown on top of 60,000 mt yesterday.

Chinese ag futures were sharply higher, forcing regulators to add additional trading regulations.

 

May 11, 2016