CHS Drayton: Morning Market Wire (08/16)

Grain markets were higher overnight. Following the overnight session, corn had no change, soybeans are up two cents, and wheat is fifteen cents higher.  Today in Drayton we are only receiving wheat.  Please call stations for hauling schedule. 

Corn closed unchanged this morning after trading a narrow two cent range overnight.  Corn found some profit taking overnight but forecasted rains provided pressure.  December corn was able to stay above yesterday’s low of $3.67 with the next levels of technical support at $3.65 then the contract low of $3.58.  Look for mostly lower trade today as rain is forecasted to cover the majority of the Midwest.

Soybeans traded two sided overnight closing this morning just below the session high of $9.27.  The market found some price support overnight on profit taking and technical buying.  The next major technical support levels for the November contract are $9.07 and $9.03.  Look for mixed to lower trade today as August rains will pressure the market but improving demand will likely limit losses.

Spring wheat rebounded overnight closing this morning up fifteen cents.  The wheat market was higher overnight on profit taking and an overdue correction.  The rains across the Dakotas and Minnesota overnight could be doing more harm than good on spring wheat.  Additional rains could cause a drop in test weight.  Look for higher trade today on strength from the overnight session.

If you have any questions or know anyone who would like to receive this email, please email me at eric.peterson@chsinc.com  or give me a call at the office at 701-454-3351. Have a great day!

 

Futures markets as of 8:30 AM
Minneapolis Wheat: MWEU17 6.74 +0.15
Kansas City HRW: KWEU17 4.28 +0.01
Soybeans: SX17 9.26 +0.02
Corn: CU17 3.55 0.00

 

CHS Drayton Cash Prices
Spring Wheat: 6.14 -0.60 basis Aug Delivered Drayton
Winter Wheat: 3.68 -0.60 basis Aug Delivered Drayton
Corn: 2.65 -0.90 basis Aug Delivered Drayton
Soybeans: 8.16 -1.10 basis Aug Delivered Drayton

 

Spring Wheat Protein Scales

-.06 cents ea. 1/5 down from 14.0% to 13.0%

-.06 cents ea. 1/5 down from 13.0% to 11.0%

+.02 cents ea. 1/5 from 14.0% to 15.0%

Any information, materials and opinions (together, “CHS Materials”) presented by CHS to the recipient of such CHS Materials, whether in written or oral form, is for general information purposes only and does not constitute legal or other professional advice and should not be relied on or treated as a substitute for specific advice relevant to particular circumstances.  CHS makes no warranties, representations or undertakings, whether express or implied, about any CHS Materials (including, without limitation, any as to the quality, accuracy, completeness or fitness for any particular purpose of any CHS Materials). Recipient agrees that CHS shall not be liable to recipient relating to or resulting from the use of any CHS Materials or any inaccuracies or errors therein or omissions therefrom.

 

CHS Drayton: Afternoon Market Wire (08/15)

Corn trade was lower today on improving crop conditions in yesterday’s crop progress report and beneficial rains set to move in through Iowa this week.  The USDA showed a 2% increase in U.S corn excellent/good ratings when the trade was expecting a decline.

Soybeans saw double digit losses today as current weather forecasts look mostly favorable for crop development.

Wheat traded lower today on an increase in crop conditions and estimates of a large world crop.  Spring wheat harvest is well underway at 40% complete.  Early yield indications in North Dakota are showing at or above expectations.

Compass contracts are a great way to market your new crop by pricing grain daily at a fixed higher futures price.  Below are today’s closing bids for two types of compass contracts we offer.  If you would like to make an offer or would like more information please give me a call at the office.  (All compass contracts have a 48 hour probation period.)

Price Builder Bonus Daily Price Plus Futures at 1:30pm
SX17 (Nov.) $9.40 $9.35 $9.25
CH17 (Mar.) $3.93 $3.90 $3.80
MWH18 (Mar.) $7.29 $6.90 $6.71

 

Below is the third compass contract we offer which pays you a premium for your old crop for potentially selling the same amount of new crop.  You only sell the new crop if the futures is equal to or greater than the target price on the trigger date.  There are many different premiums and target prices available. Please call for more info!

Old Crop Premium New Crop Target Trigger Date
0.24 7.05 MWH18 2/21/2018
0.17 9.45 SF18 12/20/2017
0.11 3.80 CH18 2/21/2018

 

Futures markets as of 1:30 PM
Minneapolis Wheat: MWEU17 6.58 -0.04
Kansas City HRW: KWEU17 4.25 -0.11
Soybeans: SX17 9.25 -0.13
Corn: CU17 3.55 -0.07
       

 

CHS Drayton Cash Bids
Spring Wheat: 5.98 -0.60 Basis Aug
Winter Wheat: 3.65 -0.60 Basis Aug
Corn: 2.65 -0.90 Basis Aug
Soybeans: 8.15 -1.10 Basis Aug
           
             

Spring Wheat Protein Scales

-.06 cents ea. 1/5 down from 14.0% to 13.0%

-.06 cents ea. 1/5 down from 13.0% to 11.5%

+.02 cents ea. 1/5 from 14.0% to 15.0%

Any information, materials and opinions (together, “CHS Materials”) presented by CHS to the recipient of such CHS Materials, whether in written or oral form, is for general information purposes only and does not constitute legal or other professional advice and should not be relied on or treated as a substitute for specific advice relevant to particular circumstances.  CHS makes no warranties, representations or undertakings, whether express or implied, about any CHS Materials (including, without limitation, any as to the quality, accuracy, completeness or fitness for any particular purpose of any CHS Materials). Recipient agrees that CHS shall not be liable to recipient relating to or resulting from the use of any CHS Materials or any inaccuracies or errors therein or omissions therefrom.

 

CHS Drayton: Morning Market Wire (08/15)

Grain markets were lower overnight. Following the overnight session, corn is down four cent, soybeans are down six cents, and wheat is seven cents lower.  Today in Drayton we are only receiving wheat.  Please call stations for hauling schedule. 

Corn traded lower overnight, despite yesterday’s positive technical close.  The market is under pressure from improving crop conditions.  Yesterday’s crop condition report improved crop conditions to 62% up 2% from last week.  Most improvements were in the northern Corn Belt while some declines were in the central and eastern Corn Belt.  Look for most

Soybeans were under pressure overnight, with the November contract closing at the session low of $9.32.  The market traded lower despite declining crop conditions in yesterday’s crop progress report.  Soybean conditions were lowered 1% to 59% good/excellent.  Look for lower trade today on an improving weather forecast.

Spring wheat closed seven cents lower this morning after trading a thirteen cent range overnight.  Improving conditions and heavy world stocks continue to weigh on the market.  The December contract is now nearly 20% lower from the intraday high of $8.43 on July 5th.  Look for mostly lower trade today on continued harvest pressure.

If you have any questions or know anyone who would like to receive this email, please email me at eric.peterson@chsinc.com  or give me a call at the office at 701-454-3351. Have a great day!

 

Futures markets as of 8:30 AM
Minneapolis Wheat: MWEU17 6.63 -0.07
Kansas City HRW: KWEU17 4.31 -0.05
Soybeans: SX17 9.32 -0.06
Corn: CU17 3.58 -0.04

 

CHS Drayton Cash Prices
Spring Wheat: 6.00 -0.63 basis Aug Delivered Drayton
Winter Wheat: 3.71 -0.60 basis Aug Delivered Drayton
Corn: 2.68 -0.90 basis Aug Delivered Drayton
Soybeans: 8.22 -1.10 basis Aug Delivered Drayton

 

Spring Wheat Protein Scales

-.06 cents ea. 1/5 down from 14.0% to 13.0%

-.06 cents ea. 1/5 down from 13.0% to 11.0%

+.02 cents ea. 1/5 from 14.0% to 15.0%

Any information, materials and opinions (together, “CHS Materials”) presented by CHS to the recipient of such CHS Materials, whether in written or oral form, is for general information purposes only and does not constitute legal or other professional advice and should not be relied on or treated as a substitute for specific advice relevant to particular circumstances.  CHS makes no warranties, representations or undertakings, whether express or implied, about any CHS Materials (including, without limitation, any as to the quality, accuracy, completeness or fitness for any particular purpose of any CHS Materials). Recipient agrees that CHS shall not be liable to recipient relating to or resulting from the use of any CHS Materials or any inaccuracies or errors therein or omissions therefrom.

 

CHS Drayton: Afternoon Market Wire (08/14)

At this time we are only dumping wheat, all other commodities please call. 

Corn trade was lower the majority if the day on light follow through selling form last week’s crop estimate on the WASDE report but saw a reversal late in the day to close a penny higher.

Soybeans closed seven cents lower today as August weather forecasts look to be mostly favorable.  Today’s crop condition report showed a 1% reduction in soybean conditions.

Wheat traded lower the entire session, despite a quick reversal to close the day.  Harvest progress and ample global supplies continue to pressure the market.

Compass contracts are a great way to market your new crop by pricing grain daily at a fixed higher futures price.  Below are today’s closing bids for two types of compass contracts we offer.  If you would like to make an offer or would like more information please give me a call at the office.  (All compass contracts have a 48 hour probation period.)

Price Builder Bonus Daily Price Plus Futures at 1:30pm
SX17 (Nov.) $9.55 $9.40 $9.37
CH17 (Mar.) $3.97 $3.95 $3.88
MWH18 (Mar.) $7.47 $7.10 $6.86

 

Below is the third compass contract we offer which pays you a premium for your old crop for potentially selling the same amount of new crop.  You only sell the new crop if the futures is equal to or greater than the target price on the trigger date.  There are many different premiums and target prices available. Please call for more info!

Old Crop Premium New Crop Target Trigger Date
0.24 7.25 MWH18 2/21/2018
0.18 9.55 SF18 12/20/2017
0.10 3.90 CH18 2/21/2018

 

Futures markets as of 1:30 PM
Minneapolis Wheat: MWEU17 6.70 -0.04
Kansas City HRW: KWEU17 4.40 -0.08
Soybeans: SX17 9.37 -0.07
Corn: CU17 3.62 +0.01
       

 

CHS Drayton Cash Bids
Spring Wheat: 6.07 -0.63 Basis Aug
Winter Wheat: 3.80 -0.60 Basis Aug
Corn: 2.72 -0.90 Basis Aug
Soybeans: 8.27 -1.10 Basis Aug
           
             

Spring Wheat Protein Scales

-.06 cents ea. 1/5 down from 14.0% to 13.0%

-.06 cents ea. 1/5 down from 13.0% to 11.5%

+.02 cents ea. 1/5 from 14.0% to 15.0%

Any information, materials and opinions (together, “CHS Materials”) presented by CHS to the recipient of such CHS Materials, whether in written or oral form, is for general information purposes only and does not constitute legal or other professional advice and should not be relied on or treated as a substitute for specific advice relevant to particular circumstances.  CHS makes no warranties, representations or undertakings, whether express or implied, about any CHS Materials (including, without limitation, any as to the quality, accuracy, completeness or fitness for any particular purpose of any CHS Materials). Recipient agrees that CHS shall not be liable to recipient relating to or resulting from the use of any CHS Materials or any inaccuracies or errors therein or omissions therefrom.

 

CHS Drayton: Afternoon Market Wire (08/11)

Market Summary

Drayton Weekend Hours: Saturday-10:00am-6:00pm Sunday: Noon-6:00pm.  Please call stations for weekend hours. 

Corn traded higher today, seeing small bounce after yesterday’s selloff from the bearish USDA report.  The December contract seems it has hit some technical resistance near $3.75.

Soybeans rebounded slightly today to close five cents higher.  Monday’s crop progress report is expected to show improvement on soybean conditions.

Wheat closed twenty-nine cents lower today breaking through its 50 day moving average of $7.05.  The September contract is now $2.02 off the contract highs.

Compass contracts are a great way to market your new crop by pricing grain daily at a fixed higher futures price.  Below are today’s closing bids for two types of compass contracts we offer.  If you would like to make an offer or would like more information please give me a call at the office.  (All compass contracts have a 48 hour probation period.)

Price Builder Bonus Daily Price Plus Futures at 1:30pm
SX17 (Nov.) $9.62 $9.50 $9.45
CH17 (Mar.) $3.97 $3.95 $3.87
MWH18 (Mar.) $7.47 $7.15 $6.74

 

Below is the third compass contract we offer which pays you a premium for your old crop for potentially selling the same amount of new crop.  You only sell the new crop if the futures is equal to or greater than the target price on the trigger date.  There are many different premiums and target prices available. Please call for more info!

Old Crop Premium New Crop Target Trigger Date
0.20 7.25 MWH18 2/21/2018
0.18 9.65 SF18 12/20/2017
0.11 3.85 CH18 2/21/2018

 

Futures markets as of 1:30 PM
Minneapolis Wheat: MWEU17 6.74 -0.29
Kansas City HRW: KWEU17 4.40 -0.08
Soybeans: SX17 9.45 +0.05
Corn: CU17 3.60 +0.03
       

 

CHS Drayton Cash Bids
Spring Wheat: 6.11 -0.63 Basis Aug
Winter Wheat: 3.80 -0.60 Basis Aug
Corn: 2.70 -0.90 Basis Aug
Soybeans: 8.35 -1.10 Basis Aug
           
             

Spring Wheat Protein Scales

-.06 cents ea. 1/5 down from 14.0% to 13.0%

-.06 cents ea. 1/5 down from 13.0% to 11.5%

+.02 cents ea. 1/5 from 14.0% to 15.0%

Any information, materials and opinions (together, “CHS Materials”) presented by CHS to the recipient of such CHS Materials, whether in written or oral form, is for general information purposes only and does not constitute legal or other professional advice and should not be relied on or treated as a substitute for specific advice relevant to particular circumstances.  CHS makes no warranties, representations or undertakings, whether express or implied, about any CHS Materials (including, without limitation, any as to the quality, accuracy, completeness or fitness for any particular purpose of any CHS Materials). Recipient agrees that CHS shall not be liable to recipient relating to or resulting from the use of any CHS Materials or any inaccuracies or errors therein or omissions therefrom.

 

CHS Drayton: Morning Market Wire (08/11)

Grain markets were higher overnight. Following the overnight session, corn is up one cent, soybeans are up five cents, and wheat is five cents higher.

Corn traded higher the entire night with the September contract closing up a fraction.  The market remains surprised with the USDA’s better than expected yield yesterday.  The USDA shocked the trade with a corn yield estimate of 169.5 bushels/acre, compared to the average estimate of 166.0.  Production was pegged at 14.153 billion bushels, higher than the average estimate of 13,841 billion bushels.  Look for mostly lower trade today after yesterday’s bearish report.

Soybeans closed five cents higher this morning after trading a nine cent range overnight.  Many people are left questioning the surprising yield reported by the USDA yesterday.  The USDA pegged soybean yield at 49.4 bushels/acre vs. the average estimate of 47.4 bushels/acre.  The July estimate was 48.0 bushels/acre.  Look for slightly higher trade today as the numbers posted yesterday by the USDA are thought to be at the top end of the range.

Spring wheat saw a slight bounce overnight after yesterday’s selloff.  All wheat production was pegged at 1.739 billion bushels vs. 1.760 billion bushels in July.  The big question is still harvested acres, which was not addressed on yesterday’s report.  Harvest is picking up with Eastern North Dakota and Minnesota yielding very well, but getting worse the further west you go.  Look mostly higher trade today.

If you have any questions or know anyone who would like to receive this email, please email me at eric.peterson@chsinc.com  or give me a call at the office at 701-454-3351. Have a great day!

 

Futures markets as of 8:30 AM
Minneapolis Wheat: MWEU17 7.08 +0.05
Kansas City HRW: KWEU17 4.45 -0.02
Soybeans: SX17 9.46 +0.05
Corn: CU17 3.58 +0.01

 

CHS Drayton Cash Prices
Spring Wheat: 6.45 -0.63 basis Aug Delivered Drayton
Winter Wheat: 3.85 -0.60 basis Aug Delivered Drayton
Corn: 2.68 -0.90 basis Aug Delivered Drayton
Soybeans: 8.36 -1.10 basis Aug Delivered Drayton

 

Spring Wheat Protein Scales

-.06 cents ea. 1/5 down from 14.0% to 13.0%

-.06 cents ea. 1/5 down from 13.0% to 11.0%

+.02 cents ea. 1/5 from 14.0% to 15.0%

Any information, materials and opinions (together, “CHS Materials”) presented by CHS to the recipient of such CHS Materials, whether in written or oral form, is for general information purposes only and does not constitute legal or other professional advice and should not be relied on or treated as a substitute for specific advice relevant to particular circumstances.  CHS makes no warranties, representations or undertakings, whether express or implied, about any CHS Materials (including, without limitation, any as to the quality, accuracy, completeness or fitness for any particular purpose of any CHS Materials). Recipient agrees that CHS shall not be liable to recipient relating to or resulting from the use of any CHS Materials or any inaccuracies or errors therein or omissions therefrom.

 

CHS Drayton: Morning Market Wire (08/10)

Grain markets were higher overnight. Following the overnight session, corn had no change, soybeans are up four cents, and wheat is three cents higher.

USDA Crop Production, Supply Demand report will be released Thursday Aug. 10 at 11:00am. 

Corn closed a fraction higher this morning after trading a narrow two cent range overnight.  The market has been mostly quiet in light volume trade ahead of today’s report.  Average yield estimates on today’s report are 166 to 166.5bpa.  The market appears poised for a lower yield.  The average estimate for production is 13.855bb.  Look for steady to lower trade ahead of today’s report.

Soybeans traded higher overnight closing a penny off the session high of $9.79.  A lack of recent rains in Iowa continue to provide support to the market.  The average yield estimate for today’s report is 47.5bpa but there is some speculation that the USDA could come in lower.  The trade is anticipating a friendly report today but the focus will likely turn back to weather following the report.

Spring wheat traded two sided overnight closing the session three cents higher.  Spring wheat is still an issue, the key to production is harvested acres which we will likely not see on today’s report.  Harvest reports overall show better than expected yields. Look for slightly higher trade today.

If you have any questions or know anyone who would like to receive this email, please email me at eric.peterson@chsinc.com  or give me a call at the office at 701-454-3351. Have a great day!

 

Futures markets as of 8:30 AM
Minneapolis Wheat: MWEU17 7.37 +0.03
Kansas City HRW: KWEU17 4.65 +0.03
Soybeans: SX17 9.78 +0.04
Corn: CU17 3.72 0.00

 

CHS Drayton Cash Prices
Spring Wheat: 6.74 -0.63 basis Aug Delivered Drayton
Winter Wheat: 4.05 -0.60 basis Aug Delivered Drayton
Corn: 2.82 -0.90 basis Aug Delivered Drayton
Soybeans: 8.68 -1.10 basis Aug Delivered Drayton

 

Spring Wheat Protein Scales

-.06 cents ea. 1/5 down from 14.0% to 13.0%

-.06 cents ea. 1/5 down from 13.0% to 11.0%

+.02 cents ea. 1/5 from 14.0% to 15.0%

Any information, materials and opinions (together, “CHS Materials”) presented by CHS to the recipient of such CHS Materials, whether in written or oral form, is for general information purposes only and does not constitute legal or other professional advice and should not be relied on or treated as a substitute for specific advice relevant to particular circumstances.  CHS makes no warranties, representations or undertakings, whether express or implied, about any CHS Materials (including, without limitation, any as to the quality, accuracy, completeness or fitness for any particular purpose of any CHS Materials). Recipient agrees that CHS shall not be liable to recipient relating to or resulting from the use of any CHS Materials or any inaccuracies or errors therein or omissions therefrom.

 

CHS Drayton: Morning Market Wire (08/09)

Market Summary

Grain markets were slightly higher overnight. Following the overnight session, corn had no change, soybeans are up one cent, and wheat is two cents higher.

USDA Crop Production, Supply Demand report will be released Thursday Aug. 10 at 11:00am. 

Corn closed a fraction higher this morning as things seem to be quiet ahead of tomorrow’s USDA report.  The average estimate for corn production on Thursday’s USDA report is 13.855 billion bushels with the average yield estimated at 166.2 bushels per acre.  Look for slightly lower trade today as weather forecasts look to be mostly favorable.

Soybeans traded two sided overnight with the November contract trading a relatively narrow four cent range.  Tomorrow’s USDA report and weather remain the main focus.  The average estimate for soybean production on the report is 4.212 billion bushels with the average yield at 47.5 bushels per acre.  Look for slightly higher trade ahead of tomorrow’s report.

Spring wheat closed two cents higher this morning after a light volume overnight session.  The market saw a narrow three cent range overnight with little to no fresh news to trade on.  Spring wheat harvest should pick up this week with mostly favorable weather forecasted.  Look for wheat to follow corn and soybeans ahead of Thursday’s report.

If you have any questions or know anyone who would like to receive this email, please email me at eric.peterson@chsinc.com  or give me a call at the office at 701-454-3351. Have a great day!

 

Futures markets as of 8:30 AM
Minneapolis Wheat: MWEU17 7.33 +0.02
Kansas City HRW: KWEU17 4.62 +0.03
Soybeans: SX17 9.75 +0.01
Corn: CU17 3.70 0.00

 

CHS Drayton Cash Prices
Spring Wheat: 6.70 -0.63 basis Aug Delivered Drayton
Winter Wheat: 4.02 -0.60 basis Aug Delivered Drayton
Corn: 2.80 -0.90 basis Aug Delivered Drayton
Soybeans: 8.65 -1.10 basis Aug Delivered Drayton

 

Spring Wheat Protein Scales

-.06 cents ea. 1/5 down from 14.0% to 13.0%

-.06 cents ea. 1/5 down from 13.0% to 11.0%

+.02 cents ea. 1/5 from 14.0% to 15.0%

Any information, materials and opinions (together, “CHS Materials”) presented by CHS to the recipient of such CHS Materials, whether in written or oral form, is for general information purposes only and does not constitute legal or other professional advice and should not be relied on or treated as a substitute for specific advice relevant to particular circumstances.  CHS makes no warranties, representations or undertakings, whether express or implied, about any CHS Materials (including, without limitation, any as to the quality, accuracy, completeness or fitness for any particular purpose of any CHS Materials). Recipient agrees that CHS shall not be liable to recipient relating to or resulting from the use of any CHS Materials or any inaccuracies or errors therein or omissions therefrom.

 

CHS Drayton: Morning Market Wire (08/08)

Market Summary

Grain markets were mostly higher overnight. Following the overnight session, corn had no change, soybeans are up eight cents, and wheat is three cents higher.

Drayton and all locations will be closing at 11:00am Wednesday Aug. 9th for employee safety training. 

USDA Crop Production, Supply Demand report will be released Thursday Aug. 10 at 11:00am. 

Corn closed a fraction higher this morning after trading a tight trading range overnight.  The market saw a three cent range overnight.  The USDA lowered crop conditions 1% to 60% good/excellent.  Illinois saw the biggest change as ratings dropped 5%.  U.S weather appears cooler than normal with below average precipitation chances across the major corn production areas.  Look for higher trade on a lower crop condition report.

Soybeans saw higher trade overnight on follow through buying from yesterday.  Weather remains the major topic as recent rains are viewed as disappointing.  The USDA raised crop conditions 1% to 60% good/excellent.  Blooming was reported at 90%, setting pods is 65% both close to normal.  Look for mostly higher trade today as uncertain weather forecasts provide support.

Spring wheat traded higher overnight but lower into the close.  The September contract closed five cents off the overnight high of $7.35.  Yesterday’s crop condition report showed spring wheat up 1% from last week to 32% good/excellent.  Spring wheat is currently 24% harvested compared to 9% last week and a five year average of 21%.

If you have any questions or know anyone who would like to receive this email, please email me at eric.peterson@chsinc.com  or give me a call at the office at 701-454-3351. Have a great day!

 

Futures markets as of 8:30 AM
Minneapolis Wheat: MWEU17 7.30 +0.03
Kansas City HRW: KWEU17 4.70 +0.03
Soybeans: SX17 9.77 +0.08
Corn: CU17 3.73 0.00

 

CHS Drayton Cash Prices
Spring Wheat: 6.67 -0.63 basis Aug Delivered Drayton
Winter Wheat: 4.10 -0.60 basis Aug Delivered Drayton
Corn: 2.83 -0.90 basis Aug Delivered Drayton
Soybeans: 8.67 -1.10 basis Aug Delivered Drayton

 

Spring Wheat Protein Scales

-.06 cents ea. 1/5 down from 14.0% to 13.0%

-.06 cents ea. 1/5 down from 13.0% to 11.0%

+.02 cents ea. 1/5 from 14.0% to 15.0%

Any information, materials and opinions (together, “CHS Materials”) presented by CHS to the recipient of such CHS Materials, whether in written or oral form, is for general information purposes only and does not constitute legal or other professional advice and should not be relied on or treated as a substitute for specific advice relevant to particular circumstances.  CHS makes no warranties, representations or undertakings, whether express or implied, about any CHS Materials (including, without limitation, any as to the quality, accuracy, completeness or fitness for any particular purpose of any CHS Materials). Recipient agrees that CHS shall not be liable to recipient relating to or resulting from the use of any CHS Materials or any inaccuracies or errors therein or omissions therefrom.

 

CHS Drayton: Afternoon Market Wire (08/07)

Market Summary

Drayton and all locations will be closing at 11:00am Wednesday Aug. 9th for employee safety training. 

Our spring wheat harvest DP program is -.05 cents/bu. per month with a 10 cents/bu minimum charge, must be priced by 7/31/18.  DP program will require full delivery of contracted bushel amount.  DP can be cut off at any time.  All wheat coming in not on DP program or contracted will be CASH.  Corn and Soybean DP Programs to follow. 

Corn closed five cents higher today to close at the day’s high of $3.72.  Support came as significant rainfall failed to fall over areas of Iowa Southern Illinois that are feeling the effects of drought.

Soybeans traded higher today on a corrective bounce after last week’s selloff.  Dry weather in Iowa and Southern Illinois also provided support.

Wheat traded higher today on spillover strength from the corn and soybean markets.  Expectations for today’s crop show a 1% increase in the good/excellent rating for the crop.

Compass contracts are a great way to market your new crop by pricing grain daily at a fixed higher futures price.  Below are today’s closing bids for two types of compass contracts we offer.  If you would like to make an offer or would like more information please give me a call at the office.  (All compass contracts have a 48 hour probation period.)

Price Builder Bonus Daily Price Plus Futures at 1:30pm
SX17 (Nov.) $9.89 $9.75 $9.67
CH17 (Mar.) $4.14 $4.05 $3.98
MWH18 (Mar.) $8.08 $7.65 $7.38

 

Below is the third compass contract we offer which pays you a premium for your old crop for potentially selling the same amount of new crop.  You only sell the new crop if the futures is equal to or greater than the target price on the trigger date.  There are many different premiums and target prices available. Please call for more info!

Old Crop Premium New Crop Target Trigger Date
0.31 7.70 MWH18 2/21/2018
0.20 9.95 SF18 12/20/2017
0.13 3.95 CH18 2/21/2018

 

Futures markets as of 1:30 PM
Minneapolis Wheat: MWEU17 7.26 +0.10
Kansas City HRW: KWEU17 4.67 +0.07
Soybeans: SX17 9.67 +0.10
Corn: CU17 3.72 +0.05
       

 

CHS Drayton Cash Bids
Spring Wheat: 6.63 -0.63 Basis Aug
Winter Wheat: 4.07 -0.60 Basis Aug
Corn: 2.82 -0.90 Basis Aug
Soybeans: 8.57 -1.10 Basis Aug
           
             

Spring Wheat Protein Scales

-.08 cents ea. 1/5 down from 14.0% to 13.0%

-.08 cents ea. 1/5 down from 13.0% to 12.0%

+.02 cents ea. 1/5 from 14.0% to 15.0%

Any information, materials and opinions (together, “CHS Materials”) presented by CHS to the recipient of such CHS Materials, whether in written or oral form, is for general information purposes only and does not constitute legal or other professional advice and should not be relied on or treated as a substitute for specific advice relevant to particular circumstances.  CHS makes no warranties, representations or undertakings, whether express or implied, about any CHS Materials (including, without limitation, any as to the quality, accuracy, completeness or fitness for any particular purpose of any CHS Materials). Recipient agrees that CHS shall not be liable to recipient relating to or resulting from the use of any CHS Materials or any inaccuracies or errors therein or omissions therefrom.

 

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