Corn
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| May ‘16 | 390’2 | Unch. | May ‘16 | 350’0 | Unch. |
| Jul ‘16 | 391’6 | Unch. | June ‘16 | 349’0 | Unch. |
| Sep ‘16 | 392’2 | +0’4 | July ‘16 | 354’0 | +1’0 |
| Dec ‘16 | 396’4 | +1’2 | NC ‘16 | 349’0 | +2’0 |
Soybeans
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| May ‘16 | 1035’4 | +14’4 | May ‘16 | 958’0 | +17’0 |
| Jul ‘16 | 1043’6 | +14’0 | June ‘16 | 961’0 | +16’0 |
| Aug ‘16 | 1044’0 | +13’4 | July ‘16 | 961’0 | +16’0 |
| Nov ‘16 | 1017’6 | +10’0 | NC ‘16 | 944’0 | +10’0 |
Favorable weather pressured corn and beans early on as we began a new month of trading.
Values closed higher at the end of the session, led by the soybean rally
A drier two-week outlook for Argentina, some rainfall for dry regions of Brazil.
COT report showed the funds net long 80k corn, 160k beans & short 61k wheat.
The funds were massive buyers of 217k corn contracts in 2 weeks, including 111k last week.
The dollar index is @ a 6.5 month low; gold @ 15- mo high; silver @ 15-mo high.
Weekly export inspections for corn @ 45.6 mb, beans 5.5 and wheat 13.1 mb.
US corn plantings were at 45% complete and beans at 8%. ; Wheat ratings at 61% good/excellent
Wheat ratings are much stronger than both last year and versus 5-year average
May deliveries – 0 corn/meal; soy 171; SRW 544; HRW 761; soyoil 2851; oats 137.
Traders await China’s corn reserve policy; rumors the gov’t will make direct sales to users.
Direct sales will cut red tape of auctions; some feel gov’t surplus could exceed 225 mmt.