September 9, 2015

Corn

CBOT Prices Two Rivers Cash Bid Prices
Sep ‘15 356’4 +1’4 FH Sep ‘15 333’0 +1’0
Dec ‘15 369’0 +0’6 NC ‘15 326’0 +1’0
Mar ‘16 380’2 +0’4 Dec ‘15 339’0 +1’0
May ‘16 387’4 +0’6 Jan ‘15 345’0 +1’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Sep ‘15 882’6 -8’0 Aug ‘15 847’0 -7’0
Nov ‘15 872’2 -7’0 NC ‘15 806’0 -7’0
Jan ‘16 876’0 -6’2 Dec ‘15 816’0 -6’0
Mar ‘16 878’4 -5’4 Jan ‘15 817’0 -6’0

 

Rallies faded by mid-session for both the grains and equities.

The Dow went from 200 higher before turning negative, closing 239 points lower

Equities initially higher following the Nikkei surging 7.7%, largest one-day gain since 2008.

Corn finds recent support as traders begin lowering crop size ideas due to poor yield reports.

Soybeans seem to be the weakest link; crop conditions unchanged, expectations of the large carryout.

A few small bean trades, little push; cash remains inverted & a few extending premiums thru Sep.

Corn basis remains strong with some improving values this week for both spot and new crop.

This strength has faded quickly over the past week with harvest looming

A satellite imagery group by the name of Descartes Labs lowers crop size to 13.3 bb.

They are using a 164.8 bpa yield, down from 164.9 last month

Perdue Farms to buy Niman Ranch to help expands into antibiotic-free and organic foods.

Egg McMuffin price may soon increase as McDonald’s switches to cage-free only eggs.

 

September 9, 2015