Corn
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| May ‘18 | 394’6 | Unch. | May ‘18 | 353’0 | Unch. |
| Jul ‘18 | 402’0 | -0’6 | June ‘18 | 354’0 | -1’0 |
| Sep ‘18 | 410’2 | -0’6 | July ‘18 | 354’0 | -1’0 |
| Dec ‘18 | 419’4 | Unch. | NC ‘18 | 371’0 | Unch. |
Soybeans
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| May ‘18 | 1013’2 | +6’0 | May ‘18 | 946’0 | +5’0 |
| Jul ‘18 | 1021’2 | +5’4 | June ‘18 | 945’0 | +5’0 |
| Aug ‘18 | 1024’6 | +5’4 | July ‘18 | 945’0 | +5’0 |
| Nov ‘18 | 1031’0 | +6’6 | NC ‘18 | 951’0 | +7’0 |
Corn finished near unchanged as beans finished with a higher close, although off the highs for the day
The USDA report showed largely as-expected numbers for the US supplies
The world figures are the ones that caught the attention of the market as they were under estimates
The market seemed skeptical or unconvinced that the numbers would be accurate
World new crop corn carryout pegged at 159.2 million tons vs 186.35 million analyst estimates
Soybeans were 86.7 million tons vs 90.52 million average estimates
Wheat was 264.3 million tons vs 269.18 million average estimates
Argentine soy production reduced again but Brazilian corn increased to more than offset
Brazilian corn estimates cut 5 million tons, likely due to safrinha corn crop losses
There is still a lot of grain, but the current prices appear to have very little weather risk built in
