September 24, 2015

Corn

CBOT Prices Two Rivers Cash Bid Prices
Dec ‘15 381’4 -1’6 NC ‘15 339’0 Unch.
Mar ‘16 392’6 -2’0 Dec ‘15 348’0 -2’0
May ‘16 400’0 -2’0 Jan ‘15 353’0 -2’0
Jul ‘16 405’4 -2’2 Feb ‘15 355’0 -2’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Nov ‘15 868’0 +4’2 NC ‘15 803’0 +4’0
Jan ‘16 872’4 +4’2 Dec ‘15 813’0 +4’0
Mar ‘16 876’6 +4’2 Jan ‘15 813’0 +5’0
May ‘16 879’4 +4’0 Feb ‘15 817’0 +4’0

 

Mixed commodity markets while equities have been showing sizeable losses.

Soybeans turned higher ahead of purchase agreements and following solid export sales.

USDA announced the sale of 313 kmt of US beans to unknown destination for 2015/16.

Weekly exports were solid beans @ 48.5 mb, corn poor @ 16.8 and wheat 10.4.

YTD bean sales are just 39% of the USDA goal; the 5-yr avg for today’s date @ 51% of final.

YTD corn sales are just 21% of USDA goal;  the 5-yr avg equal to 33% of the final sales.

Wheat may be pressured on news Russia will likely relax wheat export duty; needs PM approval.

Chinese delegation signed contracts totaling 13.8 million tonnes, total worth of $5.3 billion

Bloomberg pegs Sep 1 stocks average trade est @ 1.739 bb for corn and 208 mb for beans.

India’s weather bureau states a pickup in monsoonal rainfall has nearly offset earlier rain deficits.

NOAA’s 6-10 & 8-14 day outlook suggests above normal temps and normal precip for Midwest.

Caterpillar to cut 10,000 jobs over 4 years; shares down 7% @ a 5-yr low; Deere down 3.4%.

 

September 24, 2015