August 1, 2018

Corn

CBOT Prices Two Rivers Cash Bid Prices
Sep ‘18 365’0 -7’2 Aug ‘18 319’0 -7’0
Dec ‘18 379’4 -7’0      
Mar ‘19 390’2 -6’6 NC ‘18 331’0 -7’0
May ‘19 396’0 -6’2 Dec ‘18 336’0 -7’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Aug ‘18 886’6 -17’0 Aug ‘18 821’0 -17’0
Sep ‘18 891’4 -17’2      
Nov ‘18 901’6 -17’2 NC ‘18 821’0 -17’0
Jan ‘19 912’6 -16’6 Dec ‘18 838’0 -17’0

 

Grain finished lower today after a strong session yesterday led by talk of trade talks resuming

President Trump yesterday considered increasing tariff from 10% to 25% according to some news

Nothing definitive was announced from the White House, however

Action led by being unhappy about trade talk progression between China and US

Yesterday’s rally also fueled by hot and dry forecasts; forecasts cooled some in today’s models

Majority of corn belt received 1.5-3” less than average rainfall in July

Ethanol production last week fell from week prior but production remains quite good still

FCStone rolled out their yield survey results this afternoon after the close

Corn yield estimated at 178.1 bu/ac; much higher than 162.8 bu/ac

Soybean yield estimated at 51.5 bu/ac; much higher than 47.7 bu/ac last year

Iowa yields put at 198 bu/ac and 59 bu/ac, blowing away last year at 180 and 55 respectively

August 1, 2018