May 20, 2016

Corn

CBOT Prices Two Rivers Cash Bid Prices
Jul ‘16 394’4 +4’4 May ‘16 351’0 +5’0
Sep ‘16 396’6 +4’2 June ‘16 353’0 +5’0
Dec ‘16 399’6 +2’4 July ‘16 355’0 +5’0
Mar ‘17 406’4 +1’4 NC ‘16 351’0 +2’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Jul ‘16 1074’2 +2’6 May ‘16 998’0 +2’0
Aug ‘16 1073’4 +0’4 June ‘16 998’0 +2’0
Sep ‘16 1060’2 -1’6 July ‘16 998’0 +2’0
Nov ‘16 1049’4 -4’0 NC ‘16 979’0 +6’0

 

Corn and beans both higher at the close after an erratic session

Soymeal not letting the soybean market sell off, also supporting the corn market as a feed alternative

Commitment of Traders report showed funds longer than expected in soybeans

They were not as long as expected in corn. Trade expecting more spread unwinding apparently

The Cattle on Feed report won’t do the beef markets any favors

Cattle on Feed at 101.3% vs last year when the trade expected 100.1%

Cattle placed on feed at 107.5% vs last year, shockingly higher than 98.6% anticipated

Mato Grasso’s state deputy director is expecting state corn acreage to increase in September

Argentina government expecting similar results due to corn’s high prices

John Deere forecasts sales to slump 15-20% in both North America and South America in 2016

May 20, 2016