November 4, 2015

Corn

CBOT Prices Two Rivers Cash Bid Prices
Dec ‘15 380’4 Unch. NC ‘15 352’0 Unch.
Mar ‘16 388’2 -0’4 Dec ‘15 357’0 Unch.
May ‘16 394’2 -0’4 Jan ‘15 352’0 -1’0
Jul ‘16 399’0 -0’2 Feb ‘15 354’0 Unch.

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Nov ‘15 882’0 +3’4 NC ‘15 829’0 +5’0
Jan ‘16 884’0 +5’0 Dec ‘15 833’0 +5’0
Mar ‘16 886’4 +5’2 Jan ‘15 829’0 +5’0
May ‘16 891’4 +5’0 Feb ‘15 831’0 +5’0

 

The markets turned higher with Dec wheat making new highs for the move, challenging 3.5 mo high.

Lack of selling remains supportive while growing supplies acts as overhead resistance.

S American weather still a main focus, short term is dry and warm but rains in extended outlook.

Heavy forecasted rains in E Australia could hamper wheat production and quality, offering support.

Yellen states economy is perking up, domestic spending improves, Dec hike a “live possibility”.

China’s equities experienced biggest gain in 7 wks on reform talk; ECB chief also suggests more stimulus.

The average trade estimate sees US corn carry @ 1.597 versus 1.561 in October.

The average trade estimates has US bean carry @ 435 mb versus 425 mb in Oct.

The average trade estimate has US wheat carry @ 869 mb versus 861 mb in Oct.

Corn yields to increase to 168.2 (168 previous) and beans to 47.5 (previous @ 47.2).

Wheat turned higher despite more rains forecasted for S Plains; drought in Russia continues.

Weekly ethanol production grew 2.6%, larger than expected and the highest since mid-July.

China for the 1st time proposes to let land lie fallow to conserve water and soil quality.

November 4, 2015