Corn
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| Mar ‘16 | 362’6 | +4’0 | Feb ‘16 | 336’0 | +5’0 |
| May ‘16 | 367’0 | +3’4 | Mar ‘16 | 337’0 | +4’0 |
| Jul ‘16 | 372’0 | +3’4 | Apr ‘16 | 340’0 | +4’0 |
| Dec ‘16 | 377’2 | +3’6 | NC ‘16 | 345’0 | +4’0 |
Soybeans
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| Mar ‘16 | 879’0 | +6’2 | Feb ‘16 | 825’0 | +8’0 |
| May ‘16 | 881’4 | +5’0 | Mar ‘16 | 824’0 | +7’0 |
| Jul ‘16 | 886’2 | +4’4 | |||
| Nov ‘16 | 888’6 | +5’2 | NC ‘16 | 816’0 | +5’0 |
Outside market rally faded as crude oil turned negative
Crude oil falls from nearly $2/barrel higher, closed down 32 cents for the day.
Oil was higher following news of an OPEC/Russia agreement to cut production levels.
This is the first OPEC/non-OPEC agreement in 15 years; compliance issues remain a market negative.
If Iraq and Iran don’t agree to cut production the deal is not set in stone yet
Goldman now sees a trendless oil market, chopping between $20 & $40/barrel.
Equities higher following Japanese stocks; also, comments from Draghi suggest more ECB stimulus.
Big weekly bean inspections of 64.7 mb (66% destined China); corn @ 27.2 mb and wheat 14.1 mb.
Monthly NOPA crush was at 150.453 million bushels vs. 155.2 million expected
Initial reactions were for a sharp selloff but beans rebounded quickly
Hormel Foods announces their turkey farms to be back to normal production by April following bird flu.
