Corn
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| Mar ‘16 | 366’2 | -5’6 | Dec ‘15 | 335’0 | -6’0 |
| May ‘16 | 372’4 | -5’4 | Jan ‘16 | 335’0 | -6’0 |
| Jul ‘16 | 378’4 | -5’4 | Feb ‘16 | 338’0 | -6’0 |
| Sep ‘16 | 382’6 | -5’0 | Mar ‘16 | 339’0 | -6’0 |
Soybeans
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| Jan ‘16 | 885’2 | -6’0 | Dec ‘15 | 833’0 | -6’0 |
| Mar ‘16 | 885’4 | -6’0 | Jan ‘16 | 831’0 | -6’0 |
| May ‘16 | 890’4 | -6’4 | Feb ‘16 | 831’0 | -6’0 |
| Jul ‘16 | 897’2 | -6’6 | Mar ‘16 | 830’0 | -6’0 |
Corn and beans turned lower as the session closed despite higher crude oil & equities.
Poor export demand continues to be the negative theme; Russia now cutting wheat export tax.
Crude was higher for the 1st time in a week; dollar poised for the 1st lower month since Aug.
Early support attributed to China’s gov’t saying they will provide more stimulus.
Chinese stocks rise to a four-month high while the Shanghai Composite has rallied 20% this Q.
Mixed weather out of Mato Grosso with scattered rains followed by more dryness.
Total affected area originally around 10-15% of total area but newest estimates are around 20%
Dryness in India hurting their wheat crop, may turn India into a net importer of wheat
One SA group feels a 95 mmt bean crop out of Brazil would be “worst case scenario” (USDA @ 100).
Both live and feeder cattle continue higher after locking limit higher the previous two sessions.
Fed Res Bank Pres Lockhart says a “gradual” rate hike may provide increases every other meeting.
However, the average trade guess suggests just a 51% chance of another rate hike by April.