Corn
CBOT Prices | Two Rivers Cash Bid Prices | ||||
Mar ‘16 | 373’0 | +2’4 | Mar ‘16 | 345’0 | +6’0 |
May ‘16 | 377’2 | +2’4 | Apr ‘16 | 345’0 | +2’0 |
Jul ‘16 | 381’6 | +2’2 | May ‘16 | 345’0 | +2’0 |
Dec ‘16 | 389’4 | +2’0 | NC ‘16 | 341’0 | +2’0 |
Soybeans
CBOT Prices | Two Rivers Cash Bid Prices | ||||
Mar ‘16 | 916’0 | +7’0 | Mar ‘16 | 856’0 | +9’0 |
May ‘16 | 922’6 | +6’6 | Apr ‘16 | 856’0 | +7’0 |
Jul ‘16 | 924’6 | +6’4 | May ‘16 | 856’0 | +7’0 |
Nov ‘16 | 928’4 | +6’4 | NC ‘16 | 859’0 | +7’0 |
An impressive rally for beans and wheat while corn was a reluctant follower; crude oil was down $1.11.
SX makes a new, 7-mo high, old crop tests recent high; nearby corn above the 100 day MA 1st time since Oct.
Palm oil provides spillover support to vegoils & beans; weather remains supportive for wheat.
Recent cold temperatures has created frost threat concerns while the dry outlook is also supportive.
Winter wheat ratings improved in CO, IL, NE & TX; they were lowered in SD and KS.
A warmer and drier outlook should be a little negative for corn as we approach the Midwest planting season.
AR corn plantings @ 8% vs 20% avg; LA @ 36 vs 61% avg; MS @ 5 vs 29% avg; TX @ 38 vs 37% avg.
Fresh news is tough to find just two days ahead of the Quarterly Stocks and the Planting Intentions reports.
Fed Reserve Chairman Yellen said they would be cautious in raising interest rates this year
This plunged the dollar 800 points in the final few hours of the session, supporting commodities
Odds increasing for a transition from El Nino to La Nina this summer, could impact N America weather.