Corn
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| Dec ‘16 | 338’4 | -3’0 | NC ‘16 | 291’0 | -3’0 |
| Mar ‘17 | 346’4 | -2’6 | Dec ‘16 | 302’0 | -3’0 |
| May ‘17 | 353’4 | -3’0 | Jan ‘17 | 306’0 | -2’0 |
| July ‘17 | 360’2 | -3’2 | Feb ‘17 | 308’0 | -2’0 |
Soybeans
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| Jan ‘17 | 985’6 | -3’6 | NC ‘16 | 913’0 | -4’0 |
| Mar ‘17 | 994’4 | -3’4 | Dec ‘16 | 915’0 | -4’0 |
| May ‘17 | 1002’4 | -3’0 | Jan ‘17 | 915’0 | -4’0 |
| July ‘17 | 1008’4 | -2’2 | Feb ‘17 | 918’0 | -4’0 |
Corn and beans struggled to hold early gains today, unable to break through technical resistance
Both corn and soybeans couldn’t break through the 100 day moving averages in both charts
The US dollar has provided headwinds for grains as other currencies weaken vs the dollar
The stronger dollar makes our grain exports less competitive in the international market
The Brazilian Real is 9% weaker than it was last week, Argentine peso down 4% vs dollar in 3 sessions
Due to this break, China is rumored to have booked cargoes of Brazilian beans today
Brazilian beans are running at a 20 cent discount to US beans into Asia
The dollar today broke through and closed above the recent high set back in December 2015
The USDA did announce the sale of 165,000 tons of beans to China today
South American weather looks to get more rainfall in the dry areas in the 11-15 day period
The bulls are holding onto hope the USDA is underestimating demand as they have in years past