Corn
CBOT Prices | Two Rivers Cash Bid Prices | ||||
Dec ‘16 | 346’0 | +9’2 | NC ‘16 | 299’0 | +9’0 |
Mar ‘17 | 355’6 | +9’2 | Dec ‘16 | 312’0 | +10’0 |
May ‘17 | 362’6 | +9’2 | Jan ‘17 | 320’0 | +9’0 |
July ‘17 | 369’0 | +8’6 | Feb ‘17 | 323’0 | +9’0 |
Soybeans
CBOT Prices | Two Rivers Cash Bid Prices | ||||
Nov ‘16 | 973’0 | +19’0 | NC ‘16 | 902’0 | +19’0 |
Jan ‘17 | 978’0 | +18’6 | Dec ‘16 | 913’0 | +19’0 |
Mar ‘17 | 984’4 | +19’0 | Jan ‘17 | 913’0 | +19’0 |
May ‘17 | 990’2 | +18’4 | Feb ‘17 | 908’0 | +19’0 |
Â
Corn & beans enjoyed a tech bounce following Friday’s higher close on an outside day.
Dec corn @ a 2.5 month high; 20 day crossing above 50 day for the 1st time since July.
Corn and bean inspections combined for a whopping 98.5 mb; corn @ 57.9, beans @ 40.6 mb.
Seasonal patterns turn bullish for corn and beans starting around the first week of October.
Weekly COT report showed the funds short 177k corn & short 127k wheat; net long 58k beans.
Harvest progress report showed corn at 24% complete vs 15% last wek, 24% last year, and 27% average
Soybean harvest at 26% complete vs 10% last week, 36% last year, and 27% on average
After rallying to a 5-week high, crude has turned mixed as traders await any OPEC news.
Hurricane Mathew looks to spilt Jamaica and Haiti, could reach the Carolinas by Sunday.
China closed all week on holiday – no flash sales announcements today for the first time in a week.
Soybean seed prices have more than doubled in Argentina due to heavy April rains lowering quality.
Stocks report: corn @ 1.738, guess @ 1.754; beans @ 197, guess @ 201; wheat 2.527, guess @ 2.402