November 17, 2015

Justin Huebner, Grain Division Manager Grain Commentary

Corn

CBOT Prices Two Rivers Cash Bid Prices
Dec ‘15 362’0 +2’0 NC ‘15 341’0 -4’0
Mar ‘16 368’0 +1’2 Dec ‘15 336’0 -1’0
May ‘16 373’4 +0’6 Jan ‘15 342’0 -2’0
Jul ‘16 378’4 +0’2 Feb ‘15 342’0 -2’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Nov ‘15 864’0 +4’4 NC ‘15 816’0 +4’0
Jan ‘16 865’0 +4’2 Dec ‘15 811’0 +5’0
Mar ‘16 870’4 +4’0 Jan ‘15 809’0 +4’0
May ‘16 876’4 +3’6 Feb ‘15 810’0 +5’0

 

Higher markets today with corn and beans trading higher and wheat lower.

Wheat pressured on poor world demand; corn & beans supported on huge fund shorts.

Midday maps appear a little drier for parts of La Pampa, Cordoba and Southern BA.

Equities closed near unchanged after trading higher most of the day; crude oil pressured and gold sharply lower.

Funds are now short 58k corn, 52k beans, 21k wheat, 5k meal contract; net long 615 in soyoil.

A 3rd French delivery location has stopped accepting delivery of wheat due storage concerns.

US dollar rallied to a 7-mo high vrs the euro; Goldman Sachs sees parity by year end.

Interesting to see grain under government loan (as of Nov 17) is double from a year ago.

11/17/2014                                                         11/17/2015

Corn 114.2 million bushels 209.4 million bushels
Soybeans 28.0 53.7
Wheat 25.7 48.1

 

November 17, 2015