Corn
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| Sep ‘20 | 347’2 | +2’6 | Sep ‘20 | 318’0 | +5’0 |
| Dec ‘20 | 358’0 | +4’2 | NC ‘20 | 313’0 | +3’0 |
| Mar ‘21 | 368’4 | +3’6 | Dec ‘20 | 317’0 | +4’0 |
| May ‘21 | 374’6 | +3’2 | Jan ‘21 | 324’0 | +5’0 |
Soybeans
| CBOT Prices | Two Rivers Cash Bid Prices | ||||
| Sep ‘20 | 969’4 | +0’6 | Sep ‘20 | 908’0 | +2’0 |
| Nov ‘20 | 968’0 | +2’0 | NC ‘20 | 894’0 | +1’0 |
| Jan ‘21 | 973’4 | +1’2 | Dec ‘20 | 908’0 | +2’0 |
| Mar ‘21 | 973’6 | +1’0 | Jan ‘21 | 907’0 | +2’0 |
Grains finished higher today to close out the week strong ahead of the long holiday weekend
Corn is in an uncertain spot between lost production from drought and storms & lost ethanol demand
In a year with typical driving habits, corn would be rallying more from perceived losses from drought
The question remains over lost production/reduced harvested acres due to the derecho
Brazilian corn production estimates will likely be revised higher in subsequent USDA monthly reports
Strong profits and a currency that seems to only get weaker makes pushing for high yields the norm
The unknown is China. Are they cleaning out old inventory or rebuilding supplies due to food inflation?
The USDA announced today the sale of 318k metric tonnes to China
The US remains at a price advantage vs Brazil into China through November
Expect large purchases to continue as grains are cheap & China attempts to meet Phase 1 obligations
Brazilian production is expected to increase in ‘21 as well with acreage expansion due to strong profits