Corn
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| May ‘16 | 378’2 | -12’0 | May ‘16 | 338’0 | -12’0 |
| Jul ‘16 | 379’6 | -12’0 | June ‘16 | 337’0 | -12’0 |
| Sep ‘16 | 381’4 | -10’6 | July ‘16 | 342’0 | -12’0 |
| Dec ‘16 | 387’0 | -9’4 | NC ‘16 | 340’0 | -9’0 |
Soybeans
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| May ‘16 | 1021’4 | -14’0 | May ‘16 | 944’0 | -14’0 |
| Jul ‘16 | 1030’0 | -13’6 | June ‘16 | 947’0 | -14’0 |
| Aug ‘16 | 1032’0 | -12’0 | July ‘16 | 947’0 | -14’0 |
| Nov ‘16 | 1010’2 | -7’4 | NC ‘16 | 936’0 | -8’0 |
Bearish outside reversals are was scored for corn & wheat; beans following suit as well
Crop loss ideas out of S America & fresh spec interest was initially bullish beans.
July beans traded to a 16 mo high while the nearby dollar index traded to a 15 mo low.
Grain markets gave up early gains as crude oil and equities both fall sharply lower.
Crude pressured for the 3rd session; rising supplies to continue longer than forecasted.
The dollar made an impressive turnaround, now trading higher after scoring new lows.
Argentina’s weather bureau estimates the bean crop loss @ 9 mmt (15%) due to heavy rains.
Celeres of Brazil lowered their 2nd corn crop estimate by 10% to 52.8 mmt.
Informa left Arg bean crop @ 55 mmt and Brazil’s @ 100 mmt; lowered Brazil’s corn 2.7 mmt.
Informa also raised world 2016 wheat crop by 4.8 mmt due to higher EU and FSU forecasts.