Corn
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| Dec ‘17 | 336’4 | -3’4 | Dec ‘17 | 305’0 | -1’0 |
| Mar ‘18 | 349’0 | -3’6 | Jan ‘18 | 304’0 | -3’0 |
| May ‘18 | 357’2 | -3’6 | Feb ‘18 | 308’0 | -3’0 |
| Dec ‘18 | 381’4 | -3’4 | NC ‘18 | 339’0 | -3’0 |
Soybeans
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| Jan ‘18 | 982’4 | -7’2 | Dec ‘17 | 905’0 | -7’0 |
| Mar ‘18 | 994’0 | -7’4 | Jan ‘18 | 908’0 | -7’0 |
| May ‘18 | 1005’2 | -7’0 | Feb ‘18 | 918’0 | -8’0 |
| Nov ‘18 | 999’2 | -5’4 | NC ‘18 | 923’0 | -6’0 |
Values drifted lower today with a wetter Argentine weather forecast driving the grains
Recently the forecasted rains have been larger than actual rainfall, so we’ll see on this rain event
The USDA report will be released tomorrow morning at 11am
Production numbers are not expected to change, but they may tweak world production and demand
China’s soy purchasing pace has been stronger than current USDA projections
However, the US share of those purchases has been lower than anticipated as well
Somewhat confusing on that is that the US is still competitively priced in the world market
Climate models are still pointing to at least a mild La Nina weather event this winter
This typically leads to drier weather in South America and the Midwest in the US
Brazilian soy production is feared to partially or fully offset Argentine losses due to favorable rains
Tomorrow’s report will dictate nearby trading direction