Corn
CBOT Prices | Two Rivers Cash Bid Prices | ||||
Mar ‘18 | 387’6 | +14’2 | Mar ‘18 | 337’0 | +14’0 |
May ‘18 | 396’2 | +14’0 | Apr ‘18 | 338’0 | +9’0 |
Jul ‘18 | 403’2 | +14’2 | May ‘18 | 344’0 | +13’0 |
Dec ‘18 | 411’4 | +14’4 | NC ‘18 | 362’0 | +13’0 |
Soybeans
CBOT Prices | Two Rivers Cash Bid Prices | ||||
Mar ‘18 | 1044’6 | +26’6 | Mar ‘18 | 955’0 | +27’0 |
May ‘18 | 1055’4 | +26’6 | Apr ‘18 | 960’0 | +27’0 |
Jul ‘18 | 1058’0 | +27’4 | May ‘18 | 963’0 | +27’0 |
Nov ‘18 | 1047’6 | +31’2 | NC ‘18 | 964’0 | +31’0 |
Markets jumped immediately following the release of the USDA acreage numbers
Corn acres were at 88 million vs average trade estimates of 89.42 and 90.167 last year
Soybean acres were at 89 million vs average trade estimates of 91.06 and 90.142 last year
All wheat acres were at 47.3 million vs average trade estimates of 46.3 and 46.012 last year
Corn stocks were at 8.888 billion bushels vs 8.703 average trade estimate and 8.622 last year
Soybeans were at 2.107 billion bushels vs 2.030 average trade estimate and 1.739 last year
Iowa total acreage is projected to be down 196,000 acres from last year
There’s plenty of questioning of acre totals as it’s rare to get a decrease in acres
But these are the numbers the market will use in projections until we get hard planting data
Now we will start to trade US weather since we’re past the big report everyone was watching