May 5, 2016

Corn

CBOT Prices Two Rivers Cash Bid Prices
May ‘16 373’2 -5’0 May ‘16 335’0 -3’0
Jul ‘16 376’6 -3’0 June ‘16 334’0 -3’0
Sep ‘16 379’0 -2’4 July ‘16 339’0 -3’0
Dec ‘16 385’0 -2’0 NC ‘16 338’0 -2’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
May ‘16 1024’4 +3’0 May ‘16 948’0 +4’0
Jul ‘16 1034’0 +4’0 June ‘16 951’0 +4’0
Aug ‘16 1036’0 +4’0 July ‘16 951’0 +4’0
Nov ‘16 1015’4 +5’2 NC ‘16 942’0 +6’0

 

Beans turned firmer after the morning open, leading wheat higher, which corn couldn’t tag along.

Early calls were lower following yesterday’s sharp sell-off; lower metals & equities.

Beans remain impressive despite a general sell-off in most markets & a rebounding dollar.

Bean deliveries were 728, wheat @ 514 & soyoil @ 1329; there were no meal deliveries.

Annual KS crop tour showing well-above average crop prospects; C KS @ 47.2 bpa vs 41.2 avg.

USDA announced the sale of 107,500 tonnes of US corn to Japan for 2015-16 crop year.

The Dow was off nearly 100 pts following a bearish payroll report today; US Jobs data Fri.

There was some speculation China was successful in popping commodity “mini-bubble”.

Looking at beans rebound, traders aren’t as convinced despite a drop in open interest.

 

 

May 5, 2016