Corn
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| May ‘17 | 359’0 | -6’0 | Apr ‘17 | 317’0 | -6’0 |
| July ‘17 | 366’6 | -5’0 | May ‘17 | 320’0 | -6’0 |
| Sep ‘17 | 373’6 | -5’0 | June ‘17 | 323’0 | -5’0 |
| Dec ‘17 | 384’2 | -4’6 | NC ‘17 | 334’0 | -5’0 |
Soybeans
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| May ‘17 | 945’6 | -8’6 | Apr ‘17 | 874’0 | -9’0 |
| July ‘17 | 956’4 | -8’4 | May ‘17 | 870’0 | -9’0 |
| Aug ‘17 | 958’4 | -8’4 | June ‘17 | 872’0 | -8’0 |
| Nov ‘17 | 954’0 | -7’6 | NC ‘17 | 873’0 | -8’0 |
Corn and beans both came under pressure late in the session with a change in weather forecasts
Today proves the trade is watching updated weather models to trade the market accordingly
Forecasts had called for cool, wet weather the next two weeks
Midday models showed less rain and slightly warmer temperatures to help planted seed germination
Ethanol production dropped again last week as ethanol crush margins continue to tighten
Ethanol stocks also rose despite the reduction in production
Cattle continued their run higher, setting new contract highs despite a slightly bearish Cattle on Feed report last Friday. More cattle on feed hasn’t scared buyers. Cash cattle continue to dominate direction
We are seeing fund money leave commodities and moved to the stock market, bearish for grains
Stocks are optimistic on tax cuts for businesses, which pads profits for those businesses
A lack of a fundamental catalyst keeping grains anchored, at least for the current time
