Corn
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| Jul ‘16 | 399’4 | +2’4 | May ‘16 | 358’0 | +3’0 |
| Sep ‘16 | 402’2 | +2’4 | June ‘16 | 359’0 | +2’0 |
| Dec ‘16 | 406’0 | +2’2 | July ‘16 | 362’0 | +3’0 |
| Mar ‘17 | 413’2 | +1’6 | NC ‘16 | 358’0 | +3’0 |
Soybeans
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| Jul ‘16 | 1075’2 | -5’0 | May ‘16 | 997’0 | -3’0 |
| Aug ‘16 | 1077’0 | -5’4 | June ‘16 | 997’0 | -3’0 |
| Sep ‘16 | 1066’0 | -7’6 | July ‘16 | 1000’0 | -5’0 |
| Nov ‘16 | 1057’4 | -9’6 | NC ‘16 | 987’0 | -9’0 |
Corn, wheat & meal trading mixed to a touch firmer; soybeans moderately weaker.
Opening calls were lower amidst the lack of fresh news and a stronger dollar.
Corn was supported on analysts downsizing the Brazilian safrinha corn crop
Energies closed quietly after making a new multi-month high for 3rd straight day.
Weather models reduced rainfall totals for Friday across the ECB, improving conditions.
Weekly ethanol production showed a 1.5% drop vs LW, down 1.04% from LY.
Ethanol stocks showed a .7% draw from last week, up 3.3% from last year.
Corn usage estimated @ 99.5 mb, needing to a avg 98.2 mb/week to reach goal.
Central Iowa ethanol margins near 16 cents w/o oil extraction, best in 8 months.
DOE report showed a 1.3 mln barrel build; trade expectations were a 3 to 4 mln brl draw.
Average US corn export prices running $11-13 below South American offers
Pligrim’s Pride CEO: instead of hedging grain, we are going to pass price risk onto customers.