May 21, 2018

Corn

CBOT Prices Two Rivers Cash Bid Prices
Jul ‘18 402’6 +0’2 May ‘18 353’0 Unch.
Sep ‘18 411’2 +0’2 June ‘18 355’0 Unch.
Dec ‘18 421’0 +0’6 July ‘18 355’0 Unch.
Mar ‘18 429’2 +1’0 NC ‘18 372’0 +1’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Jul ‘18 1025’2 +26’6 May ‘18 950’0 +26’0
Aug ‘18 1029’0 +26’4 June ‘18 949’0 +26’0
Sep ‘18 1030’2 +25’6 July ‘18 949’0 +26’0
Nov ‘18 1033’6 +25’4 NC ‘18 954’0 +26’0

 

US Ag markets shot higher last night after reports that the US/China tariff threats would be suspended

Secretary Treasury Mnuchin reported that very meaningful progress has been made on a trade deal

Mnuchin said US ag exports could be up 35-40% this year alone on the deal

No details were released but is definitely viewed as a promising move as talks progress

Corn planting pace gained 19% from last week to 81% complete; essentially even with avg and last year

Soybeans at 56% planted, up 21% from last week, up 6% from last year, and up 12% from last year

Wheat condition ratings unchanged at 36% good/excellent, vs 52% last year and 44% average

Export inspections this morning were very good for soybeans and good for corn and wheat

Midwest forecasts look to be above normal temps and below average precip for the next two weeks

Brazil’s safrinha crop continues to dry out with small rainfall amounts being reported

Trade will continue to watch the US/China trade agreement proceedings this week to find direction

May 21, 2018