November 25, 2015

Justin Huebner, Grain Division Manager Grain Commentary

Corn

CBOT Prices Two Rivers Cash Bid Prices
Dec ‘15 366’0 +1’6 NC ‘15 343’0 +4’0
Mar ‘16 372’6 +3’2 Dec ‘15 344’0 +3’0
May ‘16 378’2 +3’4 Jan ‘15 345’0 +3’0
Jul ‘16 383’4 +3’2 Feb ‘15 345’0 Unch.

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Nov ‘15 875’2 +11’4 NC ‘15 827’0 +11’0
Jan ‘16 877’6 +11’4 Dec ‘15 827’0 +11’0
Mar ‘16 884’0 +11’6 Jan ‘15 820’0 +11’0
May ‘16 890’0 +11’6 Feb ‘15 823’0 +12’0

 

The seasonal pattern for beans to rally before and after Thanksgiving got off to a good start.

Early calls were mixed as the dollar scores a new high, pressuring most commodities.

Beans look positive after posting bullish daily reversal Monday; weekly reversal to follow?

Egypt announces tender to buy 240 kmt of French, Russian and Romanian wheat.

Weekly ethanol production jumped 3.4% to an all-time record of 1.008 mb per day.

Ethanol stocks increased 1.96% versus last week and up 14.97% versus a year ago.

Corn usage for ethanol production estimated @ 105.84 mb, needs to average 98.78 mb.

Moderate to heavy rains forecasted into the Midwest & S Plains, freezing rain to the north.

Rainfall totals of 2-4” are possible with the heaviest rains to occur from C OK thru MO and into S IA.

Meanwhile, improved rain chances for parts of Central Brazil, some dryness issues to prevail in NE Brazil.

Happy Thanksgiving!  Markets resume Friday AM for a short day of trading.

 

November 25, 2015