CHS Drayton: Morning Market Wire (09/20)

Market Summary

Corn traded slightly higher overnight.  Currently, the December contract is at $3.47, just above the contract low of $3.42 which is acting as a technical support level.  The 50 day moving average sits well above at $3.67.  Overall demand for U.S corn remains strong and steady, but a few signs of demand softening.  Look for mixed trade today with limited gains due to big crop ideas.

Soybeans trade was weaker overnight as the U.S/China trade war continues to weigh on the market.  Technically, support is at the contract low of $8.12 with the 50 day moving average above at $8.62. The market found support yesterday on spec short covering.  But ultimately, the U.S is not trading with the world’s largest soybean buyer, which is not friendly short term or long term.

Spring wheat closed two cents lower this morning, with the December contract closing at the overnight low of $5.85.  Technically, the December contract is just above the 20 day moving average of $5.81.  Australia has been dry this week, and that continues to lend support on ideas of a smaller crop.  Look for mixed to lower trade today.

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 8:00am
SH19 (Mar.) $8.75 $8.65 $8.56
CH19 (Mar.) $3.69 $3.65 $3.59
MWH19 (Mar.) $6.32 $6.15 $6.00

 

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
0.21 6.40 MWZ19 11/20/2019
0.26 9.45 SX19 10/23/2019
0.13 3.95 CZ19 11/20/2019

 

 

Futures markets as of 8:30 AM
Minneapolis Wheat: MWEZ18 5.85 -0.02
Kansas City HRW: KWEZ18 5.23 -0.03
Soybeans: SX18 8.28 -0.01
Corn: CZ18 3.47 +0.01

 

CHS Drayton Cash Prices
Spring Wheat: 5.07 -0.78 basis Sept Delivered Drayton
Winter Wheat: 4.43 -0.80 basis Sept Delivered Drayton
Corn: 2.72 -0.75 basis Sept Delivered Drayton
Soybeans: 6.58 -1.70 basis Sept Delivered Drayton
 

New Crop

Spring Wheat: 5.30 -0.55 basis Dec Delivered Drayton
Corn: 2.69 -0.75 basis Oct Delivered Drayton
Soybeans: 6.58 -1.70 basis Oct Delivered Drayton

 

Spring Wheat Protein Scales

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

-.05 cents ea. 1/5 down from 13.0% to 12.0% (Max -0.50)

+.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 (09/19)

Corn closed a fraction higher this morning with the December contract just above the new contract low of $3.42.  U.S corn exports for the first weeks of the marketing year are running 24% ahead of year ago levels.  A private analytic firm Informa estimated next year’s spring corn planted acreage to come in at 93.044 million acres compared to 89.1 million in 2018.  Look for slightly higher trade today as the market attempts to bounce off contract lows.

Soybeans traded slightly higher overnight with the November contract trading a narrow five cent range.  The market found support on strength from the soymeal market.  The U.S/China trade war continues to escalate as China announced another round of retaliatory tarrifs of 5-10% on U.S good and products.  Look for mixed to higher trade today.

Spring wheat closed five cents higher this morning with the December contract just below the overnight high of $5.86.  World production issues continue to provide support with the most recent being frost in Australia.  Russia is also having issues as harvest is running behind due to inclement weather, the slowest pace in five years.  Look for mostly higher trade today but limited gains as winter wheat seeding adds to an already abundant U.S supply.

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 8:00am
SH19 (Mar.) $8.65 $8.55 $8.43
CH19 (Mar.) $3.65 $3.60 $3.56
MWH19 (Mar.) $6.32 $6.15 $6.00

 

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
0.19 6.45 MWZ19 11/20/2019
0.26 9.30 SX19 10/23/2019
0.13 3.95 CZ19 11/20/2019

 

 

Futures markets as of 8:30 AM
Minneapolis Wheat: MWEZ18 5.85 +0.05
Kansas City HRW: KWEZ18 5.23 +0.07
Soybeans: SX18 8.15 +0.01
Corn: CZ18 3.44 +0.01

 

CHS Drayton Cash Prices
Spring Wheat: 5.07 -0.78 basis Sept Delivered Drayton
Winter Wheat: 4.43 -0.80 basis Sept Delivered Drayton
Corn: 2.69 -0.75 basis Sept Delivered Drayton
Soybeans: 6.45 -1.70 basis Sept Delivered Drayton
 

New Crop

           
Spring Wheat: 5.30   -0.55 basis Dec   Delivered Drayton
Corn: 2.69   -0.75 basis Oct   Delivered Drayton
Soybeans: 6.45   -1.70 basis Oct   Delivered Drayton

 

Spring Wheat Protein Scales

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

-.05 cents ea. 1/5 down from 13.0% to 12.0% (Max -0.50)

+.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 (09/18)

Corn traded lower overnight with the December contract closing at the new contract low of $3.47.  Prices continue to drop on harvest activity and reports of big yields. The weekly progress report showed corn harvest at 9% complete, ahead of the five year average of 6%.  Look for mostly lower trade today on pressure from the soybean market and the ongoing China/U.S trade dispute.

Soybeans traded lower overnight with the November contract trading a six cent range.  Trump said Monday he will impose new tariffs on $200 billion of Chinese goods and threatened to add hundreds of billions more as part of his campaign to pressure China to change its commercial practices.  The tariffs are expected to start at 10% of Chinese goods next week before rising to 25% by the end of the year.  Look for mostly lower trade today on a lack of bullish news.

Spring wheat traded higher overnight as world concerns continue to support the market.  There are weather concerns in Australia that are likely to effect production.  The western part of the country is experiencing freezing temps while the west has had very dry temps.  Look for mixed trade today with support from world concerns but limited upside due to an ample U.S supply.

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 8:00am
SH19 (Mar.) $8.70 $8.63 $8.47
CH19 (Mar.) $3.68 $3.65 $3.59
MWH19 (Mar.) $6.28 $6.13 $5.95

 

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
0.19 6.05 MWH19 2/20/2019
0.21 8.65 SH19 2/20/2019
0.08 3.65 CH19 2/20/2019

 

 

Futures markets as of 8:30 AM
Minneapolis Wheat: MWEZ18 5.79 +0.04
Kansas City HRW: KWEZ18 5.19 +0.06
Soybeans: SX18 8.20 -0.03
Corn: CZ18 3.47 -0.01

 

CHS Drayton Cash Prices
Spring Wheat: 5.01 -0.78 basis Sept Delivered Drayton
Winter Wheat: 4.39 -0.80 basis Sept Delivered Drayton
Corn: 2.77 -0.70 basis Sept Delivered Drayton
Soybeans: 6.50 -1.70 basis Sept Delivered Drayton
 

New Crop

           
Spring Wheat: 5.24   -0.55 basis Dec   Delivered Drayton
Corn: 2.72   -0.75 basis Oct   Delivered Drayton
Soybeans: 6.50   -1.70 basis Oct   Delivered Drayton

 

Spring Wheat Protein Scales

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

-.05 cents ea. 1/5 down from 13.0% to 12.0% (Max -0.50)

+.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 (09/14)

Corn traded slightly lower overnight after setting new contract lows yesterday.  The December contract breached the $3.50 mark yesterday but has since been able to trade above it.  A larger than expected U.S yield estimate, combined with signs that maybe demand is slowing continues to limit any upside.  Look for slightly higher trade today with little fresh news and a poor technical outlook.

Soybeans closed a penny higher with the November contract trading a five cent range overnight.  November soybeans are currently fifteen cents off the contract lows from a few days ago.  Record yield, record carryout, and not selling soybeans to the largest soy buyer continue to limit upside.  Look for slightly higher trade today but limited gains with no progress on the U.S/China trade relations.

Spring wheat traded higher overnight with the December contract closing at the overnight high of $5.69.  The market continues to choppy trade with not much fresh news to trade.  The world still has a few remaining issues, with uncertain Australia production and declining EU production.  However, the U.S has yet to benefit from these concerns.  Look for higher trade as support comes from a declining world supply.

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 8:00am
SH19 (Mar.) $8.80 $8.79 $8.61
CH19 (Mar.) $3.75 $3.70 $3.63
MWH19 (Mar.) $6.14 $6.00 $5.83

 

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
0.17 5.95 MWH19 2/20/2019
0.21 8.80 SH19 2/20/2019
0.08 3.65 CH19 2/20/2019

 

 

Futures markets as of 8:30 AM
Minneapolis Wheat: MWEZ18 5.69 +0.07
Kansas City HRW: KWEZ18 5.10 +0.08
Soybeans: SX18 8.34 +0.01
Corn: CZ18 3.51 0.00

 

CHS Drayton Cash Prices
Spring Wheat: 4.91 -0.78 basis Sept Delivered Drayton
Winter Wheat: 4.30 -0.80 basis Sept Delivered Drayton
Corn: 2.86 -0.65 basis Sept Delivered Drayton
Soybeans: 6.64 -1.70 basis Sept Delivered Drayton
 

New Crop

           
Spring Wheat: 5.14   -0.55 basis Dec   Delivered Drayton
Corn: 2.78   -0.70 basis Oct   Delivered Drayton
Soybeans: 6.64   -1.70 basis Oct   Delivered Drayton

 

Spring Wheat Protein Scales

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

-.05 cents ea. 1/5 down from 13.0% to 12.0% (Max -0.50)

+.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 (09/13)

Corn closed a fraction lower this morning as the market absorbs the information from yesterday’s USDA report.  The December contract continues to inch closer to the contract low of $3.50 from July 12th.  Prices fell yesterday on a bigger than expected yield number for the U.S corn crop.  The USDA pegged the 2018-19 corn crop at 14.827 billion bushels with a yield of 181.3 bushels per acre.  Look for slightly higher trade today as the market debates yesterday’s record corn yield.

Soybeans traded slightly lower overnight but are well off yesterday’s new contract lows.  The November contract is currently 18 cents off the new contract low of $8.21 made yesterday.  The USDA reported the largest U.S soybean carryout on record at 845mb for 18/19, well above the 06/07 carryout of 574mb.  Talk that the U.S is expecting to talk with China about resuming trade talks is providing support.  But the reality is that we are far from normal trade relations with the world’s largest soybean demand.

Spring wheat closed a fraction higher this morning after trading a narrow three cent range overnight.  The market continues its choppy trade as we ultimately trend lower.  The USDA made minor revisions to the U.S balance sheet yesterday ahead of the Sep 28 small grains summary report.  There was a surprise on yesterday’s report as world stocks were increased from 2.33mmt to 261.29mmt.  Look for slightly lower trade today.

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 8:00am
SH19 (Mar.) $8.90 $8.83 $8.65
CH19 (Mar.) $3.76 $3.70 $3.65
MWH19 (Mar.) $6.09 $5.95 $5.80

 

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
0.17 5.90 MWH19 2/20/2019
0.29 8.65 SH19 2/20/2019
0.10 3.65 CH19 2/20/2019

 

 

Futures markets as of 8:30 AM
Minneapolis Wheat: MWEZ18 5.65 0.00
Kansas City HRW: KWEZ18 5.05 -0.01
Soybeans: SX18 8.39 0.00
Corn: CZ18 3.53 0.00

 

CHS Drayton Cash Prices
Spring Wheat: 4.87 -0.78 basis Sept Delivered Drayton
Winter Wheat: 4.25 -0.80 basis Sept Delivered Drayton
Corn: 2.78 -0.65 basis Sept Delivered Drayton
Soybeans: 6.69 -1.70 basis Sept Delivered Drayton
 

New Crop

           
Spring Wheat: 5.10   -0.55 basis Dec   Delivered Drayton
Corn: 2.78   -0.70 basis Oct   Delivered Drayton
Soybeans: 6.69   -1.70 basis Oct   Delivered Drayton

 

Spring Wheat Protein Scales

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

-.05 cents ea. 1/5 down from 13.0% to 12.0% (Max -0.50)

+.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 (09/12)

Corn traded slightly lower overnight as the market awaits the release of today’s USDA Supply and Demand report at 11:00am.  U.S yield seems to be the primary focus for today’s report with many believing the 178bpa mark is critical to the balance sheet.  Range of estimates are from 175-180bpa.  Yesterday’s crop progress report had conditions up 1% at 68% good/excellent with harvest 5% complete.  Look for lightly weaker trade ahead of the report.

Soybeans traded lower overnight as the November contract hit a new contract low of $8.24 ¼.  The previous contract low was $8.26 from July 16th.  The average yield estimate for today is 52.2bpa, above last month’s yield of 51.6bpa.  The range of estimates is 50.9 to 53.8bpa.  Look for lower trade today as U.S supplies increase and the U.S/China trade war doesn’t seem close to resolution.

Spring wheat found strength overnight with the December contract closing six cents higher this morning.  The U.S has too much wheat, however world supplies remain tight which is resulting in up and down trade.  The USDA is expected to make minor, if any revisions to the U.S S&D as they are expected to opt to wait until the Sept. 28 small grains summary report.  Look for choppy trade today with no real clear direction.

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 8:00am
SH19 (Mar.) $8.75 $8.69 $8.53
CH19 (Mar.) $3.93 $3.85 $3.77
MWH19 (Mar.) $6.27 $6.06 $5.96

 

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
0.18 6.05 MWH19 2/20/2019
0.21 8.70 SH19 2/20/2019
0.10 3.80 CH19 2/20/2019

 

 

Futures markets as of 8:30 AM
Minneapolis Wheat: MWEZ18 5.81 +0.06
Kansas City HRW: KWEZ18 5.29 +0.06
Soybeans: SX18 8.26 -0.05
Corn: CZ18 3.65 -0.01

 

CHS Drayton Cash Prices
Spring Wheat: 5.03 -0.78 basis Sept Delivered Drayton
Winter Wheat: 4.49 -0.80 basis Sept Delivered Drayton
Corn: 3.00 -0.65 basis Sept Delivered Drayton
Soybeans: 6.56 -1.70 basis Sept Delivered Drayton
 

New Crop

           
Spring Wheat: 5.26   -0.55 basis Dec   Delivered Drayton
Corn: 2.95   -0.70 basis Oct/Nov   Delivered Drayton
Soybeans: 6.56   -1.70 basis Oct   Delivered Drayton

 

Spring Wheat Protein Scales

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

-.05 cents ea. 1/5 down from 13.0% to 12.0% (Max -0.50)

+.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 (09/11)

We will be having a DP program for soybeans but will only be taking limited amount as space is tight.  Please call the office for details on the program. 

Corn once again, sees light two sided trade ahead of tomorrow’s USDA report.  U.S yield seems to be the primary focus on tomorrow’s report with many believing 178bpa mark is critical to the balance sheet.  Overall demand remains strong as 2017-2018 exports may be larger than USDA estimate of 2.4bb leading to a decrease in carryout stocks.  Look for slightly weaker trade ahead of tomorrow’s report.

Soybeans closed two cents lower this morning after trading a relatively narrow five cent range overnight.  The market was mostly quiet ahead of many expect to be a bearish USDA report.  The report is expected to show a yield increase, with the average estimate near 52.2bpa.  The 2018/19 carryout is also expected to climb over 800mb.  Look for mixed trade today ahead of the USDA report.

Spring wheat traded lower overnight with the December contract two cents above the overnight low of $5.72.  Last week’s selloff allowed the U.S to become more competitive on the world stage but yesterday’s move higher may have slowed exports as demand remains low.  Look for choppy trade today on poor demand for U.S wheat and support from a friendly world scenario.

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 8:00am
SH19 (Mar.) $8.95 $8.88 $8.69
CH19 (Mar.) $3.95 $3.85 $3.79
MWH19 (Mar.) $6.21 $6.06 $5.87

 

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
0.18 6.00 MWH19 2/20/2019
0.31 8.70 SH19 2/20/2019
0.10 3.80 CH19 2/20/2019

 

 

Futures markets as of 8:30 AM
Minneapolis Wheat: MWEZ18 5.74 -0.05
Kansas City HRW: KWEZ18 5.24 -0.06
Soybeans: SX18 8.42 -0.02
Corn: CZ18 3.67 0.00

 

CHS Drayton Cash Prices
Spring Wheat: 4.96 -0.78 basis Sept Delivered Drayton
Winter Wheat: 4.44 -0.80 basis Sept Delivered Drayton
Corn: 3.02 -0.65 basis Sept Delivered Drayton
Soybeans: 6.72 -1.70 basis Sept Delivered Drayton
 

New Crop

           
Spring Wheat: 5.19   -0.55 basis Dec   Delivered Drayton
Corn: 2.97   -0.70 basis Oct/Nov   Delivered Drayton
Soybeans: 6.72   -1.70 basis Oct   Delivered Drayton

 

Spring Wheat Protein Scales

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

-.05 cents ea. 1/5 down from 13.0% to 12.0% (Max -0.50)

+.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 (09/10)

Corn saw light, two sided trade overnight as the markets awaits the USDA Supply and Demand report on Wednesday.  Demand remains strong as old crop carryout could tighten some.  The average trade estimate for the U.S corn production is 14.529 billion bushels vs. 14.586 in August and an average yield estimate of 177.8 vs. 178.4bpa in August.  Look for lightly mixed trade today ahead of Wednesday’s report.

Soybeans traded higher overnight despite the ongoing trade dispute between the U.S and China.  Many anticipate Wednesday’s USDA report to increase U.S production, yield and carryout for 2018/19.  Word carryout stocks are expected to increase from 105.94mmt last month to 107.29mmt.  The average estimate for this week’s USDA report is 4.649 bb production and 52.2 bpa yield compared to August of 4.586bb and 51.6bpa.

Spring wheat traded two sided overnight as the markets seems to stabilize after last week’s selloff.  The recent weakness makes the U.S more competitive at the world market tut the U.S really needs to see some demand develop as a result.  The average trade estimate for U.S carryout stocks is 941mb and the average world carryover stocks is 257.58mmt, down slightly from 258.93mmt last month.  Look for slightly mixed trade today.

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 8:00am
SH19 (Mar.) $8.95 $8.90 $8.73
CH19 (Mar.) $3.94 $3.85 $3.78
MWH19 (Mar.) $6.19 $6.06 $5.87

 

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
0.19 5.95 MWH19 2/20/2019
0.23 8.90 SH19 2/20/2019
0.10 3.80 CH19 2/20/2019

 

 

Futures markets as of 8:30 AM
Minneapolis Wheat: MWEZ18 5.71 +0.01
Kansas City HRW: KWEZ18 5.17 +0.03
Soybeans: SX18 8.46 +0.02
Corn: CZ18 3.66 -0.01

 

CHS Drayton Cash Prices
Spring Wheat: 4.93 -0.78 basis Sept Delivered Drayton
Winter Wheat: 4.37 -0.80 basis Sept Delivered Drayton
Corn: 3.01 -0.65 basis Sept Delivered Drayton
Soybeans: 6.76 -1.70 basis Sept Delivered Drayton
 

New Crop

           
Spring Wheat: 5.16   -0.55 basis Dec   Delivered Drayton
Corn: 2.96   -0.70 basis Oct/Nov   Delivered Drayton
Soybeans: 6.76   -1.70 basis Oct   Delivered Drayton

 

Spring Wheat Protein Scales

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

-.05 cents ea. 1/5 down from 13.0% to 12.0% (Max -0.50)

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

CHS Drayton: Morning Market Wire (09/07)

Corn traded lower overnight on a lack of fresh supportive news and weakness in the wheat and soybean market.  The December contract seems to be locked into a trading range from $3.50 to $3.65.  Weather conditions are expected to be drier next week which should allow harvest to resume.  The average trade estimate for the U.S corn crop is at 14.529 billion bushels compared to 14.586 seen in August.  Look for mostly choppy trade today.

Soybeans closed two cents lower this morning after trading a relatively narrow range of five cents overnight.  The U.S/Chinese trade war and big crop ideas continue to limit upside potential.  Today is the day that China could see another $200 billion worth of tariffs slapped on them.  The average trade estimate for U.S soybean yield is at 52.2 bushels per acre compared to 51.6 seen in August.  Look for lower trade today on uncertainty about the next round of tariffs.

Spring wheat traded lower overnight, with the December contract trading a narrow two cent range.  The choppy, volatile trade is likely to continue as world supply tightness is supportive but a big U.S supply weighs on the market.  Russian wheat exports for the first seven months have reached 23.1mmt, nearly double that of last year at 12.8mmt.  Look for lower trade on poor demand and ample supplies.

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 8:00am
SH19 (Mar.) $8.90 $8.82 $8.64
CH19 (Mar.) $3.94 $3.80 $3.77
MWH19 (Mar.) $6.22 $6.06 $5.86

 

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
0.16 6.05 MWH19 2/20/2019
0.21 8.85 SH19 2/20/2019
0.10 3.75 CH19 2/20/2019

 

 

Futures markets as of 8:30 AM
Minneapolis Wheat: MWEZ18 5.70 -0.01
Kansas City HRW: KWEZ18 5.13 -0.03
Soybeans: SX18 8.37 -0.02
Corn: CZ18 3.65 -0.01

 

CHS Drayton Cash Prices
Spring Wheat: 4.92 -0.78 basis Sept Delivered Drayton
Winter Wheat: 4.33 -0.80 basis Sept Delivered Drayton
Corn: 3.00 -0.65 basis Sept Delivered Drayton
Soybeans: 6.67 -1.70 basis Sept Delivered Drayton
 

New Crop

           
Spring Wheat: 5.15   -0.55 basis Dec   Delivered Drayton
Corn: 2.95   -0.70 basis Oct/Nov   Delivered Drayton
Soybeans: 6.67   -1.70 basis Oct   Delivered Drayton

 

Spring Wheat Protein Scales

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

-.05 cents ea. 1/5 down from 13.0% to 12.0% (Max -0.50)

+.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 (09/06)

Corn closed a penny lower this morning as U.S harvest works its way northward.  Technically, the December contract continues to consolidate below its 50 day moving day average of $3.69 and unable to breach since August 22nd.  More rain is expected to come through parts of the upper Midwest balance of the week into the weekend.  Look for choppy trade as the market weighs a big crop against good demand.

Soybeans higher overnight on strength from the meal market, despite the possibility of more tariffs to be imposed on China, and China likely to retaliate.  It appears China imports will be down significantly from early estimates and well below last year as they wait to see if South America can supply them.  Choppy trade is expected ahead of the next round of tariffs and big crop ideas.

Spring wheat traded lower overnight with the December contract closing down three cents.  The market was lower on a lack of fresh supportive news and a lack of demand.  The spring wheat harvest continues to wind down, as yield reports continue to be decent, with variable protein levels.  Look for lower trade today on ample stocks and a lack of demand.

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 8:00am
SH19 (Mar.) $8.90 $8.83 $8.64
CH19 (Mar.) $3.95 $3.80 $3.76
MWH19 (Mar.) $6.27 $6.13 $5.93

 

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
0.19 6.05 MWH19 2/20/2019
0.29 8.65 SH19 2/20/2019
0.11 3.75 CH19 2/20/2019

 

 

Futures markets as of 8:30 AM
Minneapolis Wheat: MWEZ18 5.77 -0.03
Kansas City HRW: KWEZ18 5.23 -0.04
Soybeans: SX18 8.39 +0.01
Corn: CZ18 3.64 -0.01

 

CHS Drayton Cash Prices
Spring Wheat: 4.99 -0.78 basis Sept Delivered Drayton
Winter Wheat: 4.43 -0.80 basis Sept Delivered Drayton
Corn: 2.99 -0.65 basis Sept Delivered Drayton
Soybeans: 6.69 -1.70 basis Sept Delivered Drayton
 

New Crop

           
Spring Wheat: 5.22   -0.55 basis Dec   Delivered Drayton
Corn: 2.94   -0.70 basis Oct/Nov   Delivered Drayton
Soybeans: 6.69   -1.70 basis Oct   Delivered Drayton

 

Spring Wheat Protein Scales

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

-.05 cents ea. 1/5 down from 13.0% to 12.0% (Max -0.50)

+.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.

 

© 2018 CHS Inc.