August 27, 2020

Corn

CBOT Prices Two Rivers Cash Bid Prices
Sep ‘20 340’6 +3’6 Aug ‘20 319’0 +3’0
Dec ‘20 354’4 +4’2 Sep ‘20 305’0 +7’0
Mar ‘21 366’2 +3’4 NC ‘20 313’0 +5’0
May ‘21 372’6 +3’4 Dec ‘20 318’0 +5’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Sep ‘20 913’6 +17’6 Aug ‘20 887’0 +3’0
Nov ‘20 920’2 +17’6 Sep ‘20 882’0 +3’0
Jan ‘21 927’2 +17’2 NC ‘20 865’0 +3’0
Mar ‘21 929’4 +15’4 Dec ‘20 882’0 +3’0

 

Corn and beans rallied today on continued heat and dryness as was forecasted

Hurricane Laura earlier this week was thought to hit Iowa to bring moisture, but that has changed

Laura is expected to move more east & miss Iowa, some minor moisture is expected for now

Grains have rallied on technical buy signals and short covering due to weather and demand

Export sales report this morning showed strong sales for corn, soybeans, wheat, soy oil, and cotton

It’s pretty obvious China was the primary buyer last week because China is typically in those markets

The USDA announced sales of 747k tons of corn to China and 140k tons of corn to unknown

All the announced sales to China has not been seen so early in the year in the last 5 years

China has more corn booked already than the USDA budgeted for all origin imports to China

August 27, 2020