Corn
CBOT Prices | Two Rivers Cash Bid Prices | ||||
Dec ‘15 | 376’6 | +3’6 | NC ‘15 | 337’0 | +4’0 |
Mar ‘16 | 387’2 | +3’4 | Dec ‘15 | 343’0 | +3’0 |
May ‘16 | 393’4 | +3’0 | Jan ‘15 | 347’0 | +3’0 |
Jul ‘16 | 398’0 | +2’2 | Feb ‘15 | 350’0 | +4’0 |
Soybeans
CBOT Prices | Two Rivers Cash Bid Prices | ||||
Nov ‘15 | 896’0 | +5’0 | NC ‘15 | 828’0 | +5’0 |
Jan ‘16 | 901’0 | +5’4 | Dec ‘15 | 841’0 | +6’0 |
Mar ‘16 | 904’0 | +5’4 | Jan ‘15 | 841’0 | +5’0 |
May ‘16 | 908’0 | +5’0 | Feb ‘15 | 845’0 | +6’0 |
Higher markets led by soybeans but buying enthusiasm remains lackluster.
Corn and soybeans scoring an outside reversal (daily chart); higher markets in store?
USDA announced the sale of 132 kmt of US beans to China for 2015/16 crop year.
Monsoon rains delayed in Brazil; dry conditions raising temps to 107 F in Mato Grosso.
Dry conditions to continue next week while wet weather dominates southern Brazil.
Heavy and much-needed rainfall still forecasted for southern Plains Wed-Friday.
Low water levels on the MS River forced dredging operations near Quincy; to reopen Oct 21.
March bean low so far this year was scored on Oct 2nd @ 8.765
Seasonal tendencies are for beans to rally at the start of harvest and through December
Interesting to know the 10-yr average rally (SH) from the Oct low to winter high is $2.29.