November 30, 2015

Corn

CBOT Prices Two Rivers Cash Bid Prices
Dec ‘15 365’0 +5’6 NC ‘15 342’0 +5’0
Mar ‘16 372’2 +5’0 Dec ‘15 343’0 +5’0
May ‘16 378’0 +5’0 Jan ‘15 344’0 +5’0
Jul ‘16 383’6 +5’2 Feb ‘15 344’0 +5’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Nov ‘15 881’0 +8’0 NC ‘15 832’0 +7’0
Jan ‘16 883’2 +7’6 Dec ‘15 832’0 +7’0
Mar ‘16 889’4 +7’6 Jan ‘15 825’0 +7’0
May ‘16 895’2 +7’2 Feb ‘15 828’0 +7’0

 

Soybeans bounce to the highest level in 3-weeks on improving exports & uncertain SA weather.

Weekly inspections remain solid for beans @ 67.4 mb; corn just 11.8 and wheat just 10.1 mb.

Parts of WC Brazil looks warm and dry this week but rain chances improve in the 8-14 day outlook.

Above normal temps here in the Midwest (6-10 and 8-14 day); mixed precip outlook- 1st dry, turns wet.

Conflicting stories today regarding export tax rate out of Argentina for corn, beans and wheat.

Instead of eliminating corn & wheat taxes it appears taxes reduced by 5%, does eliminate export quotas.

AgRural of Brazil est 44% of the ‘15-16 bean crop is sold versus 26% LY due to currency rates.

UkrAgroConsult says winter grains improving but rated just 28% good vs 41% LY, 36% poor (18 LY).

Energies are higher despite the dollar @ 8-mo high prior to Friday’s Jobs report.

A strong Jobs report should allow the Fed to raise rates in Dec, forcing the dollar higher.

OPEC is meeting on Friday to discuss production, Russia not attending & cuts are doubtful.

EPA proposed 2015 ethanol production target at 13.4 billion gallons vs. 15 billion in previous 2007 plan

EPA proposed 2016 ethanol production target at 14 billion gallons vs. 15 billion in previous 2007 plan

November 30, 2015