October 20, 2015

Justin Huebner, Grain Division Manager Grain Commentary

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.

 

October 20, 2015