October 9, 2015

Corn

CBOT Prices Two Rivers Cash Bid Prices
Dec ‘15 382’6 -8’4 NC ‘15 341’0 -8’0
Mar ‘16 393’4 -8’2 Dec ‘15 349’0 -9’0
May ‘16 400’0 -7’6 Jan ‘15 354’0 -8’0
Jul ‘16 405’2 -7’6 Feb ‘15 356’0 -8’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Nov ‘15 885’6 +4’4 NC ‘15 818’0 +5’0
Jan ‘16 890’4 +4’2 Dec ‘15 831’0 +4’0
Mar ‘16 894’2 +4’2 Jan ‘15 831’0 +5’0
May ‘16 899’0 +4’4 Feb ‘15 835’0 +4’0

 

Corn sold off late while beans managed marginal gains after the report

The USDA lowered planted corn acres by 500k to 88.4 million

The also bumped yield up a half bushel per acre to 168 bu/ac

Everything on the demand side was left unchanged

This all resulted in a carryout reduction of 1.561 billion bushels vs. 1.592 last month

World carryout was reduced by 1.86 million tonnes to 187.83 million tonnes

Brazilian production was increased by 1 mmt to 85 mmt

Soybean planted acreage was reduced by 1.1 million acres to 83.2 million

Yield was increased a tenth of a bushel to 47.2 bu/ac

Crush was increased 10 million, exports were reduced 50 million, while everything else was unchanged

This resulted in a carryout reduction of 25 million bushels to 425 million

World soybean carryout was increased 160,000 tonnes to 85.14 mmt

Brailian production was increased 3 mmt while Argentine production was left unchanged

Overall a pretty quiet report with calm reactions save for corn late in the session

 

October 9, 2015