一个pr 13, 2018

Weekly Cash Comments

Weekly Cash Commentary for week ending 04/13/2018

Basis levels firmed by 1.9 cents a bushel on beans across the US this week while corn was up marginally on a 0.3 cent improvement.

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High water along the rivers continues to escalate barge rates. This week saw barge rates take another step higher, with rates trading at 40 cents a bushel more than normal at this time of year and near the harvest-time peaks we normally see in the fall. Both corn and soy basis was off about 5 cents a bushel at river terminals this week, in spite of strong Gulf gains of 10 and 20 cents a bushel for corn and beans, respectively.

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For soybeans, they got some relief as crush facilities were higher on the week, bolstering their basis by 3.2 cents a bushel on average. 40% of the plants had a nickel to dime improvement on the week. Strong crush margins should be the norm for the next 6 months which should keep soy plants bidding aggressively for beans. As for corn plants, they improved by 0.8 cents a bushel. Gains by NE ethanol plants were 2 cents a bushel but ECB states of IN/OH saw more limited gains of only 1-cent a bushel.

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Kevin McNew

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Magazine

Marketwatch: Jun, 08

US Corn Price Idx:ZCPAUS.CM

open: 7.4463
high: 7.635
low: 7.4113
close: 7.5613

US Soybean Price Idx:ZSPAUS.CM

open: 16.6629
high: 16.957
low: 16.5868
close: 16.8841

US Hard Red Winter Wheat Price Idx:KEPAUS.CM

open: 11.1622
high: 11.1622
low: 10.8962
close: 11.0364

US Soft Red Winter Wheat Price Idx:ZWPAUS.CM

open: 10.285
high: 10.295
low: 9.9995
close: 10.1353