September 8, 2015

Corn

CBOT Prices Two Rivers Cash Bid Prices
Sep ‘15 355’0 +5’4 FH Sep ‘15 332’0 +5’0
Dec ‘15 368’2 +5’2 NC ‘15 325’0 +5’0
Mar ‘16 379’6 +5’2 Dec ‘15 338’0 +5’0
May ‘16 386’6 +5’2 Jan ‘15 344’0 +5’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Sep ‘15 890’6 +13’4 Aug ‘15 854’0 +3’0
Nov ‘15 879’2 +12’6 NC ‘15 813’0 +13’0
Jan ‘16 882’2 +12’4 Dec ‘15 822’0 +12’0
Mar ‘16 884’0 +13’0 Jan ‘15 823’0 +13’0

 

Higher markets to start off the week for both the grains and the financials.

Grains higher on heavy rains, higher world financials and thoughts of lower yields.

Heavy weekend rains occurred from NW MO thru IA and into MN and central WI.

The heaviest rainfall occurred along the southwest IA/MO border where > 5” fell.

Twitter news continues regarding corn drying down fast with variable and disappointing yields.

Average guess for Friday’s report: corn yield @ 166.5 bpa, beans @ 46.1 bpa (USDA 168.8 and 46.9)

Weekly crop ratings expected to decline 1-2% this afternoon, but were reported unchanged for corn and beans

Export news includes 120 kmt of US beans to unknown; also 120 kmt of corn to Mexico.

Export inspections totaled 35.2 mb corn, just 3.4 mb beans and 13.6 mb of wheat.

China’s CNGOIC lowered their corn crop by 3 mmt to a still record 229 mmt due to drought.

China also lowered their import demand for barley and sorghum as gov’t imposes new regulations.

 

September 8, 2015