Corn
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| May ‘18 | 389’2 | -1’4 | Apr ‘18 | 340’0 | -2’0 |
| Jul ‘18 | 397’6 | -1’2 | May ‘18 | 346’0 | -2’0 |
| Sep ‘18 | 404’6 | -1’2 | June ‘18 | 345’0 | -2’0 |
| Dec ‘18 | 414’0 | -0’6 | NC ‘18 | 365’0 | -1’0 |
Soybeans
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| May ‘18 | 1050’0 | +3’0 | Apr ‘18 | 970’0 | +3’0 |
| Jul ‘18 | 1060’2 | +2’6 | May ‘18 | 973’0 | +3’0 |
| Aug ‘18 | 1061’2 | +2’6 | June ‘18 | 970’0 | +3’0 |
| Nov ‘18 | 1048’0 | +4’6 | NC ‘18 | 964’0 | +5’0 |
The monthly USDA update report was released today but held few surprises to the market
The quarterly stocks & acreage report on March 30 took all the fanfare, which can make this one a dud
They increased corn carryout 55 million, decreased soybeans 5 million, and increased wheat 30 million
World carryout was reduced in both corn and soybeans as they account for the South American crops
Corn saw a reduction of 50 million bushels of feed and residual
Traders have long thought the feed number the USDA was using was too optimistic
Soybean crush was increased 10 million bushels, seed and residual were reduced slightly
Soymeal domestic disappearance & exports both increased, but so was production for a net no change
Now the focus will move towards weather and likelihood of planting progress
The southern US is actually ahead of pace but virtually no progress in the Midwest supporting markets
The brief warmup gives way to colder temperatures again in the longer term forecast