Wednesday Sept 23, 2020 By: Eric Peterson
Our current DP program on Soybeans is -.05 cents/bu. per month 4 month minimum. Bushels must be signed up before hauling.
Corn saw two sided trade activity but faded lower heading into the close. U.S harvest has begun lightly on corn in the Midwest as many take soybeans first where they can. Technically, the December contract seems to be rangebound from the 200 day moving average below of $3.60 to the recent high of $3.79. Look for slightly lower trade today on harvest pressure.
Soybeans closed five cents lower this morning with the November contract trading a fourteen cent range overnight. Soybeans have now lost 26 cents since Friday’s close. The market continues to have wide trading ranges this week as it deals with uncertainty of how much China will buy and how will logistics perform. Look for mostly mixed trade today as harvest pressure will likely limit gains.
Spring wheat was weaker overnight as the back and forth trade continues. The market seems rangebound as news remains mostly routine. Forecasts continue to look dry for the Southern Plains over the next two weeks as that area is really hoping for good rain to come soon. Look for slightly lower trade today on a correction form yesterday’s strong day.
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|
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 are 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|
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