November 6, 2015

Justin Huebner, Grain Division Manager Grain Commentary

Corn

CBOT Prices Two Rivers Cash Bid Prices
Dec ‘15 373’0 -1’4 NC ‘15 344’0 -2’0
Mar ‘16 381’6 -1’0 Dec ‘15 350’0 -1’0
May ‘16 388’2 -0’6 Jan ‘15 346’0 -1’0
Jul ‘16 393’6 -0’2 Feb ‘15 347’0 -1’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Nov ‘15 871’2 +3’4 NC ‘15 814’0 +5’0
Jan ‘16 867’2 +3’2 Dec ‘15 816’0 +3’0
Mar ‘16 869’4 +3’2 Jan ‘15 812’0 +3’0
May ‘16 874’6 +3’4 Feb ‘15 814’0 +3’0

 

  • Strong dollar and ideas next week’s USDA WASDE report will find additional supplies kept pressure on commodities early but they recovered some into the close
  • Strong October jobs report sending the US dollar higher. Several economist believe the strong jobs data will allow the Feds to raise interest rates at the Dec FOMC meeting.
  • US dollar traded over 1,200 points higher.
  • US dollar trading at highest level since April.
  • 271,000 non-farm payroll jobs added in October versus 185,000 expected.
  • Unemployment rate 5.0%, down from 5.1%.
  • The jobs participation rate was a 38 year low of 62.4%
  • A record 94,610,000 Americans did not participate in the labor force last month
  • The Commitment of Traders report showed traders reducing their net long positon to 24,765 contracts, their least long position since June 23
  • Soybean net position was 25,205 positions less short than last week
November 6, 2015