May 8, 2018

Corn

CBOT Prices Two Rivers Cash Bid Prices
May ‘18 395’4 +2’2 May ‘18 354’0 +3’0
Jul ‘18 403’2 +2’4 June ‘18 355’0 +2’0
Sep ‘18 411’2 +2’6 July ‘18 355’0 +2’0
Dec ‘18 419’4 +3’0 NC ‘18 371’0 +3’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
May ‘18 1011’2 +9’0 May ‘18 945’0 +8’0
Jul ‘18 1020’2 +8’6 June ‘18 944’0 +8’0
Aug ‘18 1023’2 +8’4 July ‘18 944’0 +8’0
Nov ‘18 1025’2 +7’2 NC ‘18 945’0 +7’0

 

The grains finished higher today on a bounce from yesterday’s selloff

Soybeans bounced nicely off chart support & some bargain hunters came back on Turnaround Tuesday

Weather forecasts show warmer temperatures and rainfall for much of the Midwest

This is welcomed for newly planted corn, but will slow planting in areas that have been slowed

An agreement between senators and the President has been reached regarding ethanol and oil

E15 is approved for usage year-round and ethanol exports will qualify for RINs usage

E15 usage year-round theoretically allows for 50% more ethanol usage but the devil is in the details

The agreement could lead to expanded export business, producers won’t worry about RINs as much

President Trump backed out of the Iran nuclear deal earlier today, but limited effect on oil so far

A US representative went to North Korea today and will be in meetings for diplomatic advancements

Monthly USDA report will be released Thursday at 11am

May 8, 2018