Corn
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| Dec ‘15 | 387’6 | -1’2 | NC ‘15 | 345’0 | -1’0 |
| Mar ‘16 | 398’6 | -1’0 | Dec ‘15 | 354’0 | -2’0 |
| May ‘16 | 405’4 | -1’2 | Jan ‘15 | 359’0 | -1’0 |
| Jul ‘16 | 410’6 | -1’0 | Feb ‘15 | 361’0 | -1’0 |
Soybeans
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| Nov ‘15 | 892’0 | +7’6 | NC ‘15 | 829’0 | +8’0 |
| Jan ‘16 | 894’0 | +6’4 | Dec ‘15 | 835’0 | +6’0 |
| Mar ‘16 | 897’2 | +6’4 | Jan ‘15 | 835’0 | +6’0 |
| May ‘16 | 899’6 | +6’6 | Feb ‘15 | 838’0 | +7’0 |
Interesting to see grains bouncing ahead of the report, despite a stronger dollar.
Mostly all grains were lower than pre-report estimates
Corn stocks were reported at 1.731 billion bushels vs 1.739 estimates
Bean stocks were reported at 191 million vs. 205 million
All Wheat stocks were at 2.089 billion bushels vs 2.149 billion estimates
Initial reactions were lower but rebounded to finish the day strong
Seems like a lot of uncertainty still surrounds the actual yields so as we progress we’ll get a better handle
Nearby beans have now rallied to a 5 week high on thoughts of tighter stocks.
Wheat was lower early following Russian gov’t approval of plan to lower export taxes.
Russia tells the US to back out of Syria; Russia bombing rebel troops, not ISIS.
Weekly ethanol rose .53%, up 7% from last year; stocks down .6%, down .2% from LY.
Corn usage estimated @ 99 mb, needing to average 100.7 mb/wk to reach USDA goal.
Cattle futures were sharply lower following yesterday’s limit down move.