May 13, 2016

Corn

CBOT Prices Two Rivers Cash Bid Prices
May ‘16 382’0 -3’2 May ‘16 342’0 -6’0
Jul ‘16 390’6 +1’6 June ‘16 344’0 -6’0
Sep ‘16 393’2 +1’4 July ‘16 348’0 -3’0
Dec ‘16 398’2 +2’0 NC ‘16 350’0 +1’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
May ‘16 1055’0 -9’4 May ‘16 985’0 -7’0
Jul ‘16 1065’0 -7’0 June ‘16 985’0 -7’0
Aug ‘16 1067’0 -7’0 July ‘16 990’0 -7’0
Nov ‘16 1054’4 -6’6 NC ‘16 984’0 -6’0

 

Mixed markets with wheat leading corn higher while beans remain on the defensive.

Wheat rallies to the highest level in 8 sessions, testing resistance near the 50 & 100 day MA.

Freezing temps to move across the Dakotas & upper Midwest, forcing some short-covering.

Soybeans pressured on the sharply higher dollar as well as spillover pressure from the Dalian

Export news supportive for beans with 280 kmt of old and 140 kmt of new crop sales to unknown.

Steel prices endured the largest weekly loss (Dalian Ex) as new regulations limit spec interest.

The dollar up 465 points and tested the April highs, bouncing nearly 3% in 2 weeks.

Equities sold off despite April’s Retail Sales reading, up 1.3% & biggest jump in a year.

Interesting to read world demand for gold jumped 21% during Q1 (versus LY) to all-time record.

Gold demand dropped 19% for jewelry while global investments in gold jumped 122%.

 

May 13, 2016