October 22, 2015

Corn

CBOT Prices Two Rivers Cash Bid Prices
Dec ‘15 378’2 -2’4 NC ‘15 340’0 -1’0
Mar ‘16 388’0 -2’2 Dec ‘15 345’0 -2’0
May ‘16 393’4 -2’4 Jan ‘15 348’0 -2’0
Jul ‘16 397’2 -2’6 Feb ‘15 351’0 -2’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Nov ‘15 898’6 -6’4 NC ‘15 831’0 -6’0
Jan ‘16 901’0 -8’4 Dec ‘15 841’0 -8’0
Mar ‘16 902’6 -8’6 Jan ‘15 841’0 -9’0
May ‘16 906’2 -8’4 Feb ‘15 843’0 -9’0

 

The grains started higher but turned lower as crude weakened and the dollar rallied.

Bean export demand improving with 463 kmt (mostly 2015/16 crop) reported today.

Weekly exports were large for beans @ 74.6 mb; wheat @ 13.1 and corn just 9.8 mb.

Corn exports year to date down 34.9% from LY with the USDA expecting just a .75% drop.

Bean exports are down 22.5% from last year with USDA forecasting a 9% drop.

The dollar was up 1.46% after Draghi states further ECB stimulus possible by Dec.

That strong of a dollar is impossible to ignore in the commodities market for any given day

Welcomed rains to move into the Midwest on Friday producing .25-1.0” across IA.

Heavy rains to move across TX, OK and AR with 3 day accumulations of 10+ inches for TX.

Those areas are in serious droughts but those will be erased if those rains materialize as expected

Average rally for March corn is $1.11 from the harvest low to the winter high; interesting to see the average rally from sub $4 corn is $1.10.

 

October 22, 2015