Corn
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| May ‘16 | 373’4 | +10’6 | Apr ‘16 | 344’0 | +8’0 |
| Jul ‘16 | 377’0 | +11’4 | May ‘16 | 347’0 | +10’0 |
| Sep ‘16 | 379’0 | +11’0 | |||
| Dec ‘16 | 384’0 | +9’6 | NC ‘16 | 336’0 | +10’0 |
Soybeans
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| May ‘16 | 955’6 | +19’4 | Apr ‘16 | 894’0 | +18’0 |
| Jul ‘16 | 964’4 | +19’6 | May ‘16 | 894’0 | +18’0 |
| Aug ‘16 | 966’2 | +19’4 | |||
| Nov ‘16 | 966’0 | +18’2 | NC ‘16 | 896’0 | +18’0 |
Another impressive rally as corn and beans both make new highs for the move.
Nearby corn above the 100 day MA to a 2-mo high; beans @ 8 mo high, up 5.3% in 4 days.
News that China’s exports picked up 11.5% in March supporting grains and equities.
China’s bean imports for March were 6.1 mmt, 36% higher than the same month last year.
Adding to recent bullishness has been wet weather concerns in Argentina; dry weather in Brazil.
Brazil considers scrapping their 10% corn import tariff as the livestock industry seeks cheaper supplies.
Newswires suggests 5% of Argentina’s soy harvest has been damaged with more rains forecasted.
USDA announced the sale of 110,800 tonnes of US corn to Japan for 2015-16 delivery.
Weekly ethanol production dropped 3.9% vs LW, up 1.5% versus a year ago.
Ethanol stocks rose .46% from a week ago, up 8.1% from last year.
Corn usage for ethanol estimated @ 98.5 mb, needing to avg 98.3 mb to reach goal.
Crude oil has turned mixed despite a bearish stocks report showing a 6.6 mb build.