Corn
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| Sep ‘15 | 379’6 | -6’2 | FH Sep ‘15 | 337’0 | -4’0 |
| Dec ‘15 | 391’0 | -6’2 | NC ‘15 | 336’0 | -5’0 |
| Mar ‘16 | 398’4 | -6’0 | Dec ‘15 | 346’0 | -11’0 |
| May ‘16 | 403’6 | -5’4 | Jan ‘15 | 351’0 | -11’0 |
Soybeans
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| Sep ‘15 | 884’4 | -2’6 | Aug ‘15 | 829’0 | -13’0 |
| Nov ‘15 | 888’6 | -2’2 | NC ‘15 | 818’0 | -3’0 |
| Jan ‘16 | 892’0 | -1’2 | Dec ‘15 | 829’0 | -2’0 |
| Mar ‘16 | 894’6 | -0’2 | Jan ‘15 | 829’0 | -3’0 |
Corn, beans and wheat futures were all on the defensive today
CZ under technical pressure after closing below the 100 day MA on Wednesday.
Meanwhile, November beans tested and held support near the 20 day MA of 879.5.
Mostly favorable weather and large yield potentials in the WCB weighing on values.
The Fed decided to leave interest rates unchanged this month
They said that they would continue to monitor domestic inflation and economies overseas
This caused the dollar to collapse and caused beans to catch a bid late
This should be the perfect scenario for Chinese buyers to fulfill more soybean purchasing needs
Weekly exports within range: Corn @ 21 mb, beans @ 33.5 mb and wheat @ 13.9 mb.
USDA announced the sale of 298 kmt of US beans to China; yesterday announced 184 kmt.
Some talk of non-ideal conditions delaying soy plantings in Brazil; too dry North or too wet South.
That type of weather perfectly aligns with traditionally strong El Nino weather patterns there
Weekly jobless claims drop to 275,000, a larger than expected drop and lowest in 2 months.