October 2, 2015

Corn

CBOT Prices Two Rivers Cash Bid Prices
Dec ‘15 389’2 +0’4 NC ‘15 336’0 Unch.
Mar ‘16 399’4 -0’2 Dec ‘15 338’0 +1’0
May ‘16 406’0 -0’2 Jan ‘15 347’0 Unch.
Jul ‘16 410’2 -0’4 Feb ‘15 352’0 Unch.

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Nov ‘15 874’2 -3’0 NC ‘15 811’0 -3’0
Jan ‘16 878’2 -2’4 Dec ‘15 819’0 -2’0
Mar ‘16 882’0 -2’6 Jan ‘15 819’0 -3’0
May ‘16 886’2 -2’0 Feb ‘15 823’0 -2’0

 

Choppy trade today as the markets fail to hold strength heading into a harvest weekend.

Equities are lower but well off the lows after a very disappointing Jobs report.

The US added just 142k new jobs in Sep; participation rate is 62.4%, lowest since Oct 1977.

IA yields continue to be reported high, corn generally 185-215 and beans running 55-70.

Informa raised their corn yield estimate from 167.5 to 168.4 (USDA @ 167.5).

Informa raised their bean yield estimate from 47.0 to 47.2 (USDA @ 47.1).

Earlier today, another group estimated the national yield @ 167 and 46.9 bpa.

Conflict in Syria heating up as Iran sends more ground troops while Russian planes continue bombing.

3rd Q was tough on commodities: WTI crude down 24%, beans -9.2%, corn -6.3%.

Rice and cocoa are the only two commodities that have rallied this year (drought concerns).

Hurricane Joaquin expected to weaken over next 12 hours, veer away from US coast.

Commitment of Traders report showed the funds as buyers of beans and wheat but seller of corn

October 2, 2015