October 8, 2015

Corn

CBOT Prices Two Rivers Cash Bid Prices
Dec ‘15 391’2 -4’4 NC ‘15 349’0 -4’0
Mar ‘16 401’6 -4’4 Dec ‘15 358’0 -4’0
May ‘16 407’6 -4’6 Jan ‘15 362’0 -4’0
Jul ‘16 413’0 -4’2 Feb ‘15 364’0 -5’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Nov ‘15 881’2 -9’6 NC ‘15 813’0 -10’0
Jan ‘16 886’2 -8’6 Dec ‘15 827’0 -9’0
Mar ‘16 890’0 -8’6 Jan ‘15 826’0 -9’0
May ‘16 894’4 -8’4 Feb ‘15 831’0 -8’0

 

Lower markets ahead of tomorrow’s all-important October WASDE report.

Equities turned positive, fighting back from a moderate loss; crude oil rallied as well.

Weekly export sales were solid for beans but remain poor for corn.

Bean sales include 47 mb this year, 36.6 mb next year; corn @ 20.5 mb and wheat 10.6 mb.

Soybean sales are now 46.7% of USDA forecast with 5 yr avg @ 58.4% for this week.

Corn sales are running just 23.5% of USDA forecast with the 5 yr avg @ 41.7% for this week.

Bean spreads are weaker with SX-SF @ -4.5; corn slightly weaker with CZ-CH @ -10.75.

China has reopened for business after week-long holiday; Shanghai Index rallies 3%.

The Fed released their meeting minutes that they thought the US economy was strong enough to warrant a hike

They didn’t want to hike interest rates yet until they got evidence the slumping world economy wouldn’t hurt the US economy

USDA WASDE report will be released at 11am

 

October 8, 2015