Corn
CBOT Prices | Two Rivers Cash Bid Prices | ||||
Dec ‘16 | 340’4 | +3’2 | NC ‘16 | 288’0 | -2’0 |
Mar ‘17 | 340’2 | +3’2 | Dec ‘16 | 306’0 | +4’0 |
May ‘17 | 347’0 | +3’2 | Jan ‘17 | 315’0 | +4’0 |
July ‘17 | 354’0 | +2’6 | Feb ‘17 | 318’0 | +4’0 |
Soybeans
CBOT Prices | Two Rivers Cash Bid Prices | ||||
Nov ‘16 | 989’6 | +17’2 | NC ‘16 | 915’0 | +17’0 |
Jan ‘17 | 994’6 | +17’0 | Dec ‘16 | 925’0 | +17’0 |
Mar ‘17 | 998’0 | +16’4 | Jan ‘17 | 930’0 | +17’0 |
May ‘17 | 1002’6 | +16’0 | Feb ‘17 | 925’0 | +17’0 |
Â
Soybeans led the grain and oilseed markets higher today with impressive buying continuing
This rally is all the more impressive despite harvest pressuring increasing daily
Basis levels are weaker as processors and commercials don’t know what to do with all the bushels
The outside markets were mixed with the dollar and crude oil both higher
Soybeans were led higher by surging soyoil
World palm oil prices hit a 1-year high, which spilled over into other veg oils
The absence of sufficient palm oil supplies means beans will get crushed more for oil than meal
It’s becoming apparent that the veg oil S&D table is going to be tighter than previously forecasted
Grains also supported on forecasts showing moisture in the 6-10 day to slow harvest pace
Dryness in South America is slowing down planting progress there
Producers there finding financing for early planting tough, instead waiting to guarantee germination