July 17, 2018

Corn

CBOT Prices Two Rivers Cash Bid Prices
Sep ‘18 346’2 +4’4 July ‘18 304’0 +7’0
Dec ‘18 359’6 +4’4 Aug ‘18 297’0 +6’0
Mar ‘19 371’6 +4’4 NC ‘18 309’0 +5’0
May ‘19 378’2 +4’0 Dec ‘18 320’0 +5’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Aug ‘18 839’4 +10’0 July ‘18 777’0 +13’0
Sep ‘18 845’0 +9’6 Aug ‘18 777’0 +13’0
Nov ‘18 855’2 +9’4 NC ‘18 771’0 +9’0
Jan ‘19 865’4 +9’4 Dec ‘18 791’0 +10’0

 

Corn and beans closed higher today with lower crop condition ratings than the trade anticipated

Corn was down 3% and beans were down 2% from the week prior

Several states were lower, but Missouri took the big hit with hot and dry conditions persisting there

Weather conditions look beneficial for the Midwest with cooler temps and rainfall chances

The trade issues remain, but less press on them has had the market less concerned this week

Some talk that China will need US supplies within 30 days if they don’t tap their domestic reserves

Tapping those reserves could mean delaying their US needs another 30 days

We are currently cheaper than Brazilian supplies on the global market

Although China will not buy, it should bring other buyers to the US for purchases

Weather moving forward and trade progressions will dictate trade direction

 

July 17, 2018