Corn
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| Mar ‘16 | 369’6 | -0’4 | Jan ‘16 | 341’0 | Unch. |
| May ‘16 | 374’6 | Unch. | Feb ‘16 | 342’0 | -1’0 |
| Jul ‘16 | 380’0 | +0’2 | Mar ‘16 | 343’0 | Unch. |
| Sep ‘16 | 385’0 | +0’4 | Apr ‘16 | 346’0 | Unch. |
Soybeans
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| Jan ‘16 | 880’4 | +4’0 | Jan ‘16 | 825’0 | +4’0 |
| Mar ‘16 | 881’6 | +4’4 | Feb ‘16 | 824’0 | +4’0 |
| May ‘16 | 886’6 | +4’6 | Mar ‘16 | 824’0 | +4’0 |
| Jul ‘16 | 888’2 | +5’0 | |||
Mixed markets with wheat higher, beans higher and corn steady.
The outside markets are negative with the Dow down 208 pts, crude lower as well
Export inspections for beans @ 44 mb, corn @ 23.6 and wheat just 6.9 mb.
YTD inspections for beans @ 1162 mb vs 1314 mb LY; corn @ 442.3 vs 563 mb LY.
China announces they will let the market determine price of corn; eliminate price support.
Corn basis in Cedar Rapids softer today on the spot market but firmed 1-2 cents for Feb.
Cattle on Feed report was bearish placements @ 99% of LY vs expectations of 94.7%.
On feed came in @ 100% vs 98.8% expected; marketings @ 101 vs 101.8% expected.
Weekly COT report showed the funds short 158K corn vs -186K the previous report.
The same report showed funds -70k wheat (-71K previously); beans @ -26k (-53K previous).
Drought hit S Africa to issue 1st corn estimate on Wed with avg guess @ 6.86 mmt.