May 31, 2016

Corn

CBOT Prices Two Rivers Cash Bid Prices
Jul ‘16 404’6 -8’0 May ‘16 357’0 -4’0
Sep ‘16 406’6 -7’4 June ‘16 357’0 -4’0
Dec ‘16 408’4 -5’0 July ‘16 359’0 -6’0
Mar ‘17 415’2 -4’6 NC ‘16 360’0 -5’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Jul ‘16 1078’4 -8’0 May ‘16 1003’0 -8’0
Aug ‘16 1076’4 -6’4 June ‘16 1003’0 -8’0
Sep ‘16 1064’2 -3’2 July ‘16 1003’0 -8’0
Nov ‘16 1055’6 -0’4 NC ‘16 985’0 Unch.

 

Weaker grain markets to start off the week; beans failed to hold early gains.

Rabobank says corn and bean prices have factored in SA weather issues, turns slightly bearish.

US weather is improved as drier / warmer weather should allow remaining acres to get planted.

China backs away from state soybean auction, contradicting recent statement.

It was previously announced they would auction 300kmt of beans/wk until 4.4 mmt were sold.

Overnight export news includes 73kmt old crop and 140 kmt of new crop beans to unknown.

Weekly export inspections include 31 mb corn, 6.7 mb of beans & 18.2 mb wheat.

YTD inspections: corn down 11%, beans down 8% vs USDA forecast of a 7.5% and 5.5% drop.

Bonds lower as the Fed moves closer to raising rates; Yellen suggests hike in “coming months”.

China’s stock market plunged 10% in one minute, reclaiming losses within the same minute.

This was the second “flash crash” in Asian equities this month, rattling traders’ confidence.

Corn planting announced at 94% complete and beans at 73%

The first corn condition rating of the year pegged at 72% good/excellent, 2 pts behind last year

May 31, 2016