October 29, 2015

Corn

CBOT Prices Two Rivers Cash Bid Prices
Dec ‘15 373’0 -3’6 NC ‘15 333’0 -9’0
Mar ‘16 383’6 -4’0 Dec ‘15 340’0 -3’0
May ‘16 390’4 -3’4 Jan ‘15 344’0 -4’0
Jul ‘16 395’6 -3’4 Feb ‘15 346’0 -5’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Nov ‘15 891’0 -7’2 NC ‘15 823’0 -7’0
Jan ‘16 895’4 -6’4 Dec ‘15 835’0 -7’0
Mar ‘16 898’4 -7’0 Jan ‘15 836’0 -6’0
May ‘16 903’0 -6’4 Feb ‘15 839’0 -7’0

 

Grains were slightly to moderately lower with wheat trading to the lowest level in a month.

Wheat pressured as rains move across the dry regions of Russia; forecasted rains for S Plains.

Favorable harvest weather weighing on corn and beans; stronger dollar also bearish.

A poor GDP reading out of China weighing on commodities, lowest reading since 2009 @ 6.9%.

Crude oil was $1.44 weaker, gold was $10 weaker and equities rallied to post slight gains at the close

Export inspections were monstrous for beans @ 86.9 mb; corn @ 18.1 and wheat @ 7.5 mb.

Weekly harvest progress report showed beans 77% complete vs. 62% last week and 68% on avg.

Corn harvest pegged at 59% complete vs. 42% last week and 54% on avg.

NOAA 6-10 and 8-14 continues with above normal temps; rainfall moderates towards normal or above.

COT report showed the funds long 92k corn (down 20k), long 2k beans (down 21k), short 17k wheat.

 

October 29, 2015