Corn
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| Dec ‘16 | 347’6 | -0’4 | NC ‘16 | 301’0 | Unch. |
| Mar ‘17 | 357’4 | -0’6 | Dec ‘16 | 313’0 | -1’0 |
| May ‘17 | 364’4 | -0’6 | Jan ‘17 | 322’0 | Unch. |
| July ‘17 | 371’4 | -0’4 | Feb ‘17 | 325’0 | Unch. |
Soybeans
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| Nov ‘16 | 956’6 | -6’6 | NC ‘16 | 887’0 | -7’0 |
| Jan ‘17 | 963’4 | -5’6 | Dec ‘16 | 899’0 | -5’0 |
| Mar ‘17 | 970’2 | -5’6 | Jan ‘17 | 899’0 | -5’0 |
| May ‘17 | 976’4 | -5’4 | Feb ‘17 | 894’0 | -5’0 |
Corn values hung in there pretty well today despite soybean weakness
Wheat was the leader on the day as that corn/wheat spread had gotten out of whack and needed correction
The dust has settled from the uneventful stocks report last week. Next USDA report is October 12
Crude oil was higher on OPEC may set a higher price objective
Informa released their updated yield estimates this morning. They are as follows:
Corn yield 174.5 bpa vs 174.8 bpa last month
Bean yield 51.6 bpa vs 49.5 bpa last month
They also raised bean acres 322,000 & corn acres 676,000
Weather models look good for extended forecasts. Above normal temps and below normal rainfall
USDA announced they will pay $7 billion to farmers in ARC and Price Loss programs for 2015 due to falling prices
These payments may account for 10% of farm income due to income being the lowest since 2009