September 26, 2016

Corn

CBOT Prices Two Rivers Cash Bid Prices
Dec ‘16 329’0 -7’4 NC ‘16 280’0 -8’0
Mar ‘17 339’0 -7’2 Dec ‘16 295’0 -7’0
May ‘17 346’0 -6’6 Jan ‘17 303’0 -7’0
July ‘17 352’6 -6’6 Feb ‘17 306’0 -7’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Nov ‘16 945’2 -9’6 NC ‘16 875’0 -10’0
Jan ‘17 951’4 -9’4 Dec ‘16 887’0 -9’0
Mar ‘17 957’2 -9’2 Jan ‘17 887’0 -9’0
May ‘17 963’0 -8’6 Feb ‘17 882’0 -9’0

 

Grain struggled again to start the new week, setting an early tone for expectations for the week

Weather forecasts certainly had a hand in the selloff as the harvest progress should be remarkable

A number of locks on the Mississippi will slow river barge traffic later this week

Export Inspections report showed a strong 52.6 million bushels of corn shipped, stronger than normal

Wheat was also strong but beans at a weak 14.1 million bushels

China has suspended selling domestic reserves during harvest, worry of sending prices into tailspin

Does this make them an exporter in the future or just discourage additional coarse grain imports?

The USDA announced the sale of 240,000 tons of beans sold to unknown destinations

China bean crush margins very good right now after the US selloff in prices

Corn harvest progress reported at 15% vs 9% last week, 16% last year, and 19% average

Soybean harvest reported at 10% vs 4% last week, 17% last year, and 13% average

September 26, 2016