September 2, 2015

Corn

CBOT Prices Two Rivers Cash Bid Prices
Sep ‘15 354’0 -2’0 FH Sep ‘15 332’0 -2’0
Dec ‘15 367’4 -1’4 NC ‘15 324’0 -2’0
Mar ‘16 378’6 -1’4  
May ‘16 385’4 -1’4  

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Sep ‘15 883’6 -1’0 Aug ‘15 859’0 -10’0
Nov ‘15 874’0 Unch. NC ‘15 809’0 Unch.
Jan ‘16 878’0 -0’6  
Mar ‘16 879’0 -2’0  

 

Grains turned softer amidst the negative seasonal pattern; crude closed marginally higher.

CZ is testing support near 365.5 with next support @ the August crop report day low of 357.5.

Equities closed strongly, up 293 points in the Dow. China concerns still linger in the market

Obama claims he has enough support to uphold the Iran nuclear deal which pressured crude early.

Also pressuring crude was a larger build in crude and distillate stocks; slight draw in gas.

Weekly ethanol production fell .4% from LW but up 2.9% from LY.

Ethanol stocks increased 2% versus last week, up 7.5% from the previous year.

July crush report showed 448 mb of corn usage for ethanol, up 2% from June.

USDA is likely underestimating corn usage for ethanol in their tables

Survey in Farm Futures Magazine suggests farmers intend to plant 10% more cotton in 2016.

Yesterday marked the 2nd worst, first trading day of September (on record) for the S&P 500 Index.

7 of the past 10 Septembers have seen positive returns but historically speaking, Sep averages a -1.04% return.

When combining Aug losses >6% & yesterday’s loss of 2.96%, history suggests a poor finish to the month

September 2, 2015