May 3, 2018

Corn

CBOT Prices Two Rivers Cash Bid Prices
May ‘18 399’4 +3’4 May ‘18 358’0 +4’0
Jul ‘18 408’0 +3’0 June ‘18 360’0 +3’0
Sep ‘18 415’4 +2’6 July ‘18 360’0 +3’0
Dec ‘18 422’2 +2’4 NC ‘18 373’0 +2’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
May ‘18 1043’2 +10’4 May ‘18 975’0 +14’0
Jul ‘18 1053’2 +10’2 June ‘18 970’0 +10’0
Aug ‘18 1056’2 +10’4 July ‘18 970’0 +10’0
Nov ‘18 1049’4 +8’6 NC ‘18 970’0 +9’0

 

Grain finished higher again today with a late surge from soybeans helping out

Soybeans surged about 17 cents in just a few minutes with reports of a China-US trade agreement

The agreement is expected to be announced during Beijing’s trading session (our overnight session)

Again, this doesn’t help corn or wheat, as we don’t sell China much of either commodity

Wheat continues to find strength with poor wheat conditions found on the wheat tour

Corn is getting support from wheat, dry safrinha crop in Brazil, and delayed planting in the US

Nearby corn prices are the highest they’ve been on a nearby futures chart since June 2016

Dec corn is trading at the highest level since July 2017 before the rains showed up in the drought

The market is trying to encourage every acre of corn be planted that was intended to be planted

The market is also trying to convince wheat growers to not tear up wheat and plant soybeans instead

Corn & new crop soybean export sales were reported this morning above expectations

May 3, 2018