Corn
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| Dec ‘16 | 342’0 | +3’4 | NC ‘16 | 294’0 | +3’0 |
| Mar ‘17 | 349’6 | +3’2 | Dec ‘16 | 306’0 | +4’0 |
| May ‘17 | 356’4 | +3’0 | Jan ‘17 | 309’0 | +3’0 |
| July ‘17 | 363’4 | +3’2 | Feb ‘17 | 311’0 | +3’0 |
Soybeans
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| Jan ‘17 | 989’4 | +3’6 | NC ‘16 | 917’0 | +4’0 |
| Mar ‘17 | 998’4 | +4’0 | Dec ‘16 | 919’0 | +4’0 |
| May ‘17 | 1007’2 | +4’6 | Jan ‘17 | 919’0 | +4’0 |
| July ‘17 | 1014’0 | +5’4 | Feb ‘17 | 922’0 | +4’0 |
Corn and soybeans enjoyed a late rally to salvage a day which faced slightly lower prices most of it
Informa released today their updated guesses on 2017 acreage
They put corn acres @ 90.84 million acres vs 91.0 million in October
This estimate is 3.66 million acres smaller than the current USDA corn estimate
They reiterated that soybean acres would increase 5 million from 2016 to 88.61 mill vs 88.5 in October
All wheat acres were estimated at 47.265 million vs 48.9 in October. This down about 3 mill from 2016
Current economics would argue in favor of this acreage shift towards soybeans
Much above normal temperatures and above normal rainfall projected for the next two weeks
This should help replenish ground moisture before a freeze going into Spring 2017
The US dollar is still staying strong, limiting any rally potential for grains right now