June 13, 2018

Corn

CBOT Prices Two Rivers Cash Bid Prices
Jul ‘18 376’0 -1’4 June ‘18 327’0 -2’0
Sep ‘18 385’4 -1’2 July ‘18 329’0 -2’0
Dec ‘18 397’0 -1’2 Aug ‘18 329’0 -2’0
Mar ‘19 406’2 -1’2 NC ‘18 349’0 -1’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Jul ‘18 936’0 -18’0 June ‘18 867’0 -18’0
Aug ‘18 941’6 -17’6 July ‘18 861’0 -18’0
Sep ‘18 948’2 -17’0 Aug ‘18 861’0 -18’0
Nov ‘18 958’6 -15’6 NC ‘18 885’0 -16’0

 

Commodities struggled today, a day after an overall supportive USDA report was released

Corn found buying interest as traders look for a bargain buy with tighter balance tables

Tightening those tables is when corn is cheap, ethanol production ramps up as margins improve

The USDA announced the sale of 177k tons of soybeans to an unknown destination

Informa increased corn acreage estimates by 680k acres to 88.7 million

They increased soybean acreage estimates by 920k acres to 89.9 million

Weather has looked non-threatening, but more heat and lesser precip is creeping into some forecasts

Weather threats in the Black Sea and Australia regions continue, threatening wheat production

The summit between President Trump and Kim Jong Un was significant on many levels

Most importantly is peace, but some wonder if it could open trade agreements on Ag products

The Federal Reserve increased benchmark interest rates by 25 basis points today, as expected

June 13, 2018