October 21, 2015

Justin Huebner, Grain Division Manager Grain Commentary

Corn

CBOT Prices Two Rivers Cash Bid Prices
Dec ‘15 380’6 +4’0 NC ‘15 341’0 +4’0
Mar ‘16 390’2 +3’0 Dec ‘15 347’0 +4’0
May ‘16 396’0 +2’4 Jan ‘15 350’0 +3’0
Jul ‘16 400’0 +2’0 Feb ‘15 353’0 +3’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Nov ‘15 905’2 +9’2 NC ‘15 837’0 +9’0
Jan ‘16 909’4 +8’4 Dec ‘15 849’0 +8’0
Mar ‘16 911’4 +7’4 Jan ‘15 850’0 +9’0
May ‘16 914’6 +6’6 Feb ‘15 852’0 +7’0

 

Firmer markets with beans and wheat higher; corn reluctant to follow.

Beans technically turning bullish as 20 day moving average crosses above the 50 day.

Bean oil continues to lead the complex higher, up 2% today and making a new 2-mo high.

USDA announced the sale of 40 kmt of US soyoil for 2015/16 (China and an unknown buyer).

China imported 933 kmt of DDG’s in Sep, up 73% from last year and 3rd highest ever.

China bean imports in Sep increased 44% YOY, wheat +55%, barley +71% (record).

Impeachment process in place to rid Brazil’s Pres: real drops another .5%, down 32% TY.

Weekly ethanol production increased .2% from LW and up 6.1% from a year ago.

Ethanol stocks fell .44% from a week ago, up 5.2% from a year ago.

Corn usage for ethanol estimated @ 99.86 mb, needs to avg 100.5 to reach goal.

Ukraine’s ag ministry says wheat plantings may drop 10% but recent rainfall helps.

 

October 21, 2015