September 21, 2015

Corn

CBOT Prices Two Rivers Cash Bid Prices
Dec ‘15 384’4 +7’2 FH Sep ‘15 345’0 +8’0
Mar ‘16 396’0 +7’4 NC ‘15 345’0 +8’0
May ‘16 403’4 +7’4 Dec ‘15 352’0 +5’0
Jul ‘16 409’0 +7’2 Jan ‘15 356’0 +8’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Nov ‘15 874’2 +7’0 Aug ‘15 819’0 +7’0
Jan ‘16 878’6 +7’2 NC ‘15 809’0 +7’0
Mar ‘16 882’2 +7’4 Dec ‘15 819’0 +7’0
May ‘16 885’0 +7’0 Jan ‘15 819’0 +7’0

 

Grains were supported by higher crude oil prices and a rally in world vegoil prices.

Moore Research suggests a seasonal low for grains during the final days of September.

The dollar was much higher and back to pre-Fed meeting levels; crude found support on lower rig counts.

Equities were sharply higher with the Dow up 126 points after losing 300 points on Friday.

Ideal weather should help crop maturity but harvest in Iowa is still moving along slowly

There is some talk of stalk rot getting attention, hoping to avoid wind and rain.

USDA announced the sale of 487,680 mt of US corn to Mexico; 240 kmt beans to China.

Weekly export inspections for beans @ 18.5 mb, corn @ 28.9 and wheat 22.2 mb.

Weekly harvest progress showed corn harvest at 10% complete vs 5% last week, 7% last year & 15% average

Soybean harvest was at 7% complete vs 7% last week, 3% last year, and 7% average

China’s trade delegation this week, expected to sign “good faith” contracts on Thursday.

China also confirms a 10% reduction in purchase prices for their corn reserve program.

Informa feels US corn acres could be reduced 493k, beans by 1,367k and wheat 480k according to FSA data.

September 21, 2015