September 23, 2015

Corn

CBOT Prices Two Rivers Cash Bid Prices
Dec ‘15 383’2 +2’6 NC ‘15 336’0 +1’0
Mar ‘16 394’6 +2’4 Dec ‘15 338’0 +3’0
May ‘16 402’0 +2’4 Jan ‘15 347’0 +3’0
Jul ‘16 407’6 +3’0 Feb ‘15 357’0 +3’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Nov ‘15 863’6 +2’0 NC ‘15 799’0 +3’0
Jan ‘16 868’2 +1’6 Dec ‘15 809’0 +2’0
Mar ‘16 872’4 +1’4 Jan ‘15 808’0 +1’0
May ‘16 875’4 +1’2 Feb ‘15 813’0 +2’0

 

Wheat futures led the way with corn and beans reluctantly following.

Nov beans held yesterday’s support, Dec corn traded above yesterday’s high and Dec wheat back above $5.

Dry conditions in Australia and Russia helping wheat rally to a 1-mo high.

Also supportive, a division between Russian gov’t offices regarding wheat export taxes.

The USDA announced 284,500 mt of US beans sold to China for 2015/16 crop year.

Beans finding support ahead of China’s purchase agreement announcement.

The announcement is expected to take place in Des Moines, Thursday around 1:00 PM.

Weekly ethanol production dropped 2.4% from LW, up 5.5% from the previous year.

Ethanol stocks increased by 3.3% from LW, up 1.7% from the previous year.

Corn usage for ethanol estimated @ 98.5 mb, needs to average 100.7 mb/wk to reach goal.

Friday’s hogs and pigs report is expected to show all hogs @ 103.6% of last year as of Sep 1.

Cattle futures were limit lower on declining demand at a time when retailers usually stock up.

 

September 23, 2015