Corn
CBOT Prices | Two Rivers Cash Bid Prices | ||||
Sep ‘15 | 372’6 | +3’0 | Aug ‘15 | 350’0 | +3’0 |
Dec ‘15 | 383’6 | +3’2 | FH Sep ‘15 | 350’0 | +3’0 |
Mar ‘16 | 394’6 | +3’2 |  | ||
May ‘16 | 401’2 | +3’2 | NC ‘15 | 339’0 | +3’0 |
Soybeans
CBOT Prices | Two Rivers Cash Bid Prices | ||||
Aug ‘15 | 1009’0 | +23’4 | Aug ‘15 | 984’0 | +20’0 |
Sep ‘15 | 975’4 | +19’4 |  | ||
Nov ‘15 | 963’2 | +20’0 |  | ||
Jan ‘16 | 968’0 | +20’0 | NC ‘15 | 893’0 | +20’0 |
- Corn and beans finished higher today as soybeans caught a bid after China bought 132k tons of beans
- Buying triggered the technical traders to buy as well with bullish developments on the charts
- We likely saw short covering ahead of next Wednesday’s USDA supply and demand report
- Average yield estimates for Wednesday is 164.5 bu/ac and 44.7 bu/ac for corn and beans respectively
- In July those were 166.8 bu/ac and 46.0 bu/ac
- Weather forecasts have turned a bit cooler and a bit wetter, so not quite as threatening as before
- Commitment of Traders report showed the managed funds reducing corn longs by 79,000 contracts
- They reduced their bean long positions by 11,400 contracts
- The market looks to want to be in the middle of the July’s trading range heading into Wednesday
- Overall, it was another quiet session. But next week looks to be more volatile
August 7, 2015