November 2, 2015

Corn

CBOT Prices Two Rivers Cash Bid Prices
Dec ‘15 376’4 -5’6 NC ‘15 348’0 -4’0
Mar ‘16 385’2 -6’2 Dec ‘15 353’0 -6’0
May ‘16 391’0 -6’2 Jan ‘15 349’0 -7’0
Jul ‘16 395’2 -6’2 Feb ‘15 351’0 -6’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Nov ‘15 877’6 -6’0 NC ‘15 819’0 -1’0
Jan ‘16 878’6 -7’0 Dec ‘15 822’0 -6’0
Mar ‘16 881’4 -7’2 Jan ‘15 822’0 -7’0
May ‘16 887’0 -7’4 Feb ‘15 826’0 -7’0

 

Grains pressured.  Wheat losses turned sizeable on technical selling and poor demand.

The USDA announced the sale of 20 kmt of US bean oil to unknown buyer for 2015/16.

Export inspections remain large beans @ 94.08 mb; corn @ 18.8 and wheat just 6.3 mb.

YTD bean sales now total 440.4 mb, up 8.9% from LY; YTD corn @ 206.4, down 13.5%.

Beans were initially supported on planting delays in Brazil and dry/warm weather in their northeast.

Commodities generally lower, gold continues lower on tighter policy ideas; weather weighs on energies.

FCStone’s November corn yield estimate at 168 bu/ac with 13.543 billion bushel crop vs. 167 & 13.541 in Oct.

Their bean yield estimate at 47.5 bu/ac with a 3.917 billion bushel crop vs. 46.9 & 3.919 in Oct.

Corn harvest reported at 85% complete, up 10% from last week and right at expectations

Bean harvest at 92%, up 5% from last week and a couple points higher than expected

Informa’s previous est was 13.561 and 3.878 bb; USDA in October was 13.555 and 3.888 bb.

Fed trial begins tomorrow in the $1.5 billion case between the sugar growers and the Corn Refiners Association.

Sugar millers claim CRA stole market share by falsely advertising high-fructose corn syrup as natural corn sugar

November 2, 2015