Corn
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| Dec ‘15 | 380’4 | Unch. | NC ‘15 | 352’0 | Unch. |
| Mar ‘16 | 388’2 | -0’4 | Dec ‘15 | 357’0 | Unch. |
| May ‘16 | 394’2 | -0’4 | Jan ‘15 | 352’0 | -1’0 |
| Jul ‘16 | 399’0 | -0’2 | Feb ‘15 | 354’0 | Unch. |
Soybeans
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| Nov ‘15 | 882’0 | +3’4 | NC ‘15 | 829’0 | +5’0 |
| Jan ‘16 | 884’0 | +5’0 | Dec ‘15 | 833’0 | +5’0 |
| Mar ‘16 | 886’4 | +5’2 | Jan ‘15 | 829’0 | +5’0 |
| May ‘16 | 891’4 | +5’0 | Feb ‘15 | 831’0 | +5’0 |
The markets turned higher with Dec wheat making new highs for the move, challenging 3.5 mo high.
Lack of selling remains supportive while growing supplies acts as overhead resistance.
S American weather still a main focus, short term is dry and warm but rains in extended outlook.
Heavy forecasted rains in E Australia could hamper wheat production and quality, offering support.
Yellen states economy is perking up, domestic spending improves, Dec hike a “live possibility”.
China’s equities experienced biggest gain in 7 wks on reform talk; ECB chief also suggests more stimulus.
The average trade estimate sees US corn carry @ 1.597 versus 1.561 in October.
The average trade estimates has US bean carry @ 435 mb versus 425 mb in Oct.
The average trade estimate has US wheat carry @ 869 mb versus 861 mb in Oct.
Corn yields to increase to 168.2 (168 previous) and beans to 47.5 (previous @ 47.2).
Wheat turned higher despite more rains forecasted for S Plains; drought in Russia continues.
Weekly ethanol production grew 2.6%, larger than expected and the highest since mid-July.
China for the 1st time proposes to let land lie fallow to conserve water and soil quality.