November 18,2015

Corn

CBOT Prices Two Rivers Cash Bid Prices
Dec ‘15 361’6 -0’2 NC ‘15 340’0 -1’0
Mar ‘16 368’2 +0’2 Dec ‘15 336’0 Unch.
May ‘16 373’4 Unch. Jan ‘15 341’0 -1’0
Jul ‘16 378’6 +0’2 Feb ‘15 341’0 -1’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Nov ‘15 857’6 -6’2 NC ‘15 810’0 -6’0
Jan ‘16 860’6 -4’2 Dec ‘15 804’0 -7’0
Mar ‘16 866’4 -4’0 Jan ‘15 803’0 -6’0
May ‘16 872’6 -3’6 Feb ‘15 805’0 -5’0

 

The grain markets were mostly negative with beans seeing the most selling.

An outside day for soybeans with January beans nearing the contract lows of $8.50.

Bean basis has trended weaker @ some of the Iowa processors the last 24 hours.

Bean crush margins have softened with IA margins estimated near 60 cents.

Safras estimates Brazil’s bean plantings @ 56% vs 68% on avg., slowed by heavy S rains.

Weekly ethanol production dropped 0.7% from last week, up .5% from last year.

Ethanol stocks rose 2.1% from the previous week, up 11% from last year.

Corn usage estimated @ 102.4 million bushels, needing to average 98.9 million bushels to reach goal.

NOAA 8-14 day outlook: below normal temperatures, above normal precipitation

Estimates for Friday’s Cattle on Feed report: On feed 102.2%, Placements 96%, marketing @ 96%.

Saudi Arabia is actively recruiting US personnel to help develop their fracking industry.

Saudi has large shale reserves but one of the major issues is water reserves in the desert.

November 18,2015