April 27, 2017

Corn

CBOT Prices Two Rivers Cash Bid Prices
May ‘17 362’0 +3’0 Apr ‘17 320’0 +3’0
July ‘17 369’2 +2’4 May ‘17 323’0 +3’0
Sep ‘17 376’2 +2’4 June ‘17 325’0 +2’0
Dec ‘17 386’6 +2’4 NC ‘17 337’0 +3’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
May ‘17 945’6 Unch. Apr ‘17 874’0 Unch.
July ‘17 957’2 +0’6 May ‘17 870’0 Unch.
Aug ‘17 959’2 +0’6 June ‘17 872’0 Unch.
Nov ‘17 954’4 +0’4 NC ‘17 874’0 +1’0

 

Corn finished higher today along with wheat, while soybeans closed unchanged

Corn bounced after rumors of President Trump ordering the US exit of NAFTA were found false

Trump said he is going to attempt to negotiate a new deal with Canada and Mexico

If a deal that better favors the US is not reached, then he will exit NAFTA altogether

Export sales report this morning were strong for old crop corn and both old and new crop soybeans

Soybeans remain competitive vs. Brazil due to the strengthening Real and lack of farmer selling

The USDA will likely need to increase their export projections for soybeans by summer

Weather models released midday show even warmer and drier conditions in the 2-week forecasts

Cattle continued its rip higher, closing limit higher in both live cattle and feeder cattle futures

Higher cattle prices will only spur additional feed demand as the herd should grow larger

 

April 27, 2017