Corn
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| Sep ‘16 | 352’2 | -5’4 | July ‘16 | 311’0 | -6’0 |
| Dec ‘16 | 358’2 | -6’4 | Aug ‘16 | 314’0 | -6’0 |
| Mar ‘17 | 366’2 | -6’2 | |||
| May ‘17 | 370’4 | -6’6 | NC ‘16 | 313’0 | -7’0 |
Soybeans
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| Aug ‘16 | 1072’4 | -11’2 | July ‘16 | 1012’0 | -5’0 |
| Sep ‘16 | 1065’4 | -7’6 | |||
| Nov ‘16 | 1057’2 | -5’0 | |||
| Jan ‘17 | 1055’6 | -5’2 | NC ‘16 | 986’0 | -5’0 |
Grains struggled to gain traction as today’s forecast is less threatening for crops across the Midwest as hot & dry weather beginning next week is not expected to last as long as thought
Grain sold off late on that fear going into the weekend. The ‘dome’ appears to move slightly every weather model run so the uncertainty is unnerving
USDA reporting 320,000 metric tons of soybeans sold to unknown destinations for 2016/17.
Some in the trade believe the warm temps we experienced in June will continue throughout the remainder of the growing season and the market has priced in the best possible yield results.
Yesterday Congress passed bill requiring GMO labeling, Agriculture Department given 2 years to plan
Soybean export sales to China (to date) have been lagging in pace to reach USDA export goals
IMEA estimates that the corn carryover stocks Mato Grosso will be just 70,000 tons, or approximately a 7-day supply for the livestock industry.
IMEA estimates corn yields down 27% from last year in Mato Grosso
University of Illinois Ag Economist estimating 201617 yield could be 171.4 for corn and 47.2 for soybeans based on recent crop condition ratings