May 26, 2017

Corn

CBOT Prices Two Rivers Cash Bid Prices
July ‘17 374’2 +5’0 May ‘17 324’0 +2’0
Sep ‘17 381’6 +4’6 June ‘17 325’0 +6’0
Dec ‘17 392’4 +5’0 July ‘17 324’0 +5’0
Mar ‘17 402’2 +4’6 NC ‘17 343’0 +5’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
July ‘17 926’4 -13’0 May ‘17 857’0 -11’0
Aug ‘17 929’4 -12’0 June ‘17 857’0 -11’0
Sep ‘17 927’6 -11’0 July ‘17 854’0 -13’0
Nov ‘17 929’2 -10’0 NC ‘17 849’0 -10’0

 

Corn closed higher for the day while beans struggled to keep up with corn and wheat strength

Soybean futures selling continued after prices settled below the lows set last August

Wet weather in the Eastern corn belt may continue to slow planting progress

We get our first official crop conditions reported next week, the bar shouldn’t be set too high

After the bell, the CFTC report showed funds as buyers of 27,507 contracts of corn on the week

They were sellers of 30,463 contracts of soybeans and buyers of 9,994 contracts of wheat

The Cattle on Feed report showed on feed numbers at 102% from LY, trade expected 100.8%

Placements were at 111% vs. trade estimates of 106.8%

Marketings were at 103% vs. trade estimates of 101.8%

Not a bullish report for the bulls in the cattle market.  Feeders and Live cattle both close to limit lower

Brazil’s president has officially had an impeachment request filed to the Chamber of Duties

May 26, 2017