CHS Drayton: Morning Market Wire (08/10)

Corn closed a fraction lower this morning after trading a narrow two cent range overnight.  Trade is quiet ahead of today’s USDA WASDE report which will be released a at 11:00am. The average trade estimate on yield today is 176.5 bpa, which would be right behind the record from last year of 176.6bpa.  Ending stocks are expected to rise from 1.552 billion to 1.636 billion bushels.  All eyes will be on today’s report as an estimated yield under 175bpa will be viewed as bullish, and if over 178 bpa it would be bearish.

Soybeans drifted lower overnight ahead of today’s report as the USDA may show a record production at 4.4bb.  The average trade estimate for soybean yield is 49.6 bpa with a range of 48-51.5, compared to 49.4bpa last month. World soybean stocks are estimated at 99.33mmt compared to 98.27mmt in July. Look for mostly lower trade as today’s yield estimate will be traded but ultimately market direction will come down to U.S/China trade.

Spring wheat traded lower overnight down six cents at one point last night.  The market traded lower as dryness in Europe is becoming old news and can continuing dryness actually cause much more harm? Carryout is expected to drop 24 million to 961 million bushels.  World wheat ending stocks are estimated at 256.42mmt vs. 260.88mmt in July.  Look for mostly quiet trade ahead of the report.

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.) $9.82 $9.55 $9.20
CH19 (Mar.) $4.17 $4.05 $3.93
MWH19 (Mar.) $7.00 $6.87 $6.54

 

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
0.29 6.70 MWH19 2/20/2019
0.33 9.40 SH19 2/20/2019
0.12 3.95 CH19 2/20/2019

 

 

Futures markets as of 8:30 AM
Minneapolis Wheat: MWEU18 6.28 -0.01
Kansas City HRW: KWEU18 5.79 -0.01
Soybeans: SX18 8.99 -0.04
Corn: CU18 3.69 0.00

 

CHS Drayton Cash Prices
Spring Wheat: 5.68 -0.60 basis Aug Delivered Drayton
Winter Wheat: 4.99 -0.80 basis Aug Delivered Drayton
Corn: 3.09 -0.60 basis Aug Delivered Drayton
Soybeans: 7.49 -1.50 basis Aug Delivered Drayton
 

New Crop

           
Spring Wheat: 5.68   -0.65 basis Aug/Sept   Delivered Drayton
Corn: 3.07   -0.75 basis Oct/Nov   Delivered Drayton
Soybeans: 7.49   -1.50 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 (08/08)

Corn saw choppy two sided traded overnight with the December contract trading a narrow three cent range.  The average trade estimate for corn yield on Friday’s WASDE report is 176bpa the last report estimated corn yield at 173bpa.  U.S weather remains mostly favorable as more and more areas seem to receive the rains needed to nearly finish the crop.  Look for mostly quiet to slightly higher trade today ahead of Friday’s report.

Soybeans saw mostly sideways trade as the market deals with tariffs and money flow.  Technically, the November contract stays above $9.00 with the 50 day moving average hanging above at $9.11.  The U.S announced it will begin collecting 25% tariffs on an additional $16 billion in Chinese imports Aug 23. The average trade estimate for WASDE soybean yield is 49.6 bpa compared to 49.4 last month.  Look for slightly higher trade ahead of Friday’s report.

Spring wheat traded higher overnight as world fundamentals continue to be supportive.  The U.S balance sheets remain well supplied and the U.S isn’t getting anything but routine business.  Russia, Aussie and Canada remains dry.  Spring wheat harvest is starting to pick up with yields variable but overall seem to be showing larger than the tour suggested.

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.) $9.96 $9.64 $9.30
CH19 (Mar.) $4.23 $4.05 $3.96
MWH19 (Mar.) $7.05 $6.93 $6.61

 

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
0.28 6.75 MWH19 2/20/2019
0.34 9.50 SH19 2/20/2019
0.15 3.95 CH19 2/20/2019

 

 

Futures markets as of 8:30 AM
Minneapolis Wheat: MWEU18 6.32 +0.04
Kansas City HRW: KWEU18 5.82 +0.02
Soybeans: SX18 9.09 +0.03
Corn: CU18 3.71 0.00

 

CHS Drayton Cash Prices
Spring Wheat: 5.67 -0.65 basis Aug Delivered Drayton
Winter Wheat: 5.02 -0.80 basis Aug Delivered Drayton
Corn: 3.11 -0.60 basis Aug Delivered Drayton
Soybeans: 7.64 -1.45 basis Aug Delivered Drayton
 

New Crop

           
Spring Wheat: 5.67   -0.65 basis Aug/Sept   Delivered Drayton
Corn: 3.10   -0.75 basis Oct/Nov   Delivered Drayton
Soybeans: 7.64   -1.45 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 (08/07)

Corn closed a fraction higher this morning after trading a narrow three cent range overnight.  The market followed the strength from the wheat and soybean markets.  The December contract still seems rangebound at $3.80 to $3.90 ahead of Friday’s USDA report.  The average yield estimate for the report is 176.3 bpa.  Crop ratings dropped by 1% yesterday, which is to be expected this time of year.  Look for quiet, non-eventful trade ahead of Friday’s report.

Soybeans gapped higher overnight with the November contract closing three cents off the session high of $9.05.  The market found support overnight as crop ratings were lower than expected.  Crop ratings were down 3% at 67% good/excellent.  It seems China is going to do all they can do to buy less U.S grown soybeans.  China released studies on how soybean imports could be reduced by 10% by using a lower protein feed mix. Look for mostly higher trade today with limited gains due to the trade war.

Spring wheat traded higher overnight but lower into the close, closing four cents off overnight highs.  The market was higher yet again as European and Aussie dryness cut into the world supplies.  The spring wheat condition rating more than expected at a 4% drop.  The crop is now rated at 74% good/excellent as the trade was expecting 77%.  Look for mostly higher trade today on world weather concerns and a lower than expected U.S crop rating.

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.) $9.90 $9.57 $9.23
CH19 (Mar.) $4.25 $4.05 $3.97
MWH19 (Mar.) $7.05 $6.98 $6.64

 

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
0.27 6.80 MWH19 2/20/2019
0.34 9.45 SH19 2/20/2019
0.14 4.00 CH19 2/20/2019

 

 

Futures markets as of 8:30 AM
Minneapolis Wheat: MWEU18 6.33 +0.05
Kansas City HRW: KWEU18 5.89 +0.03
Soybeans: SX18 9.02 +0.09
Corn: CU18 3.71 0.00

 

CHS Drayton Cash Prices
Spring Wheat: 5.68 -0.65 basis Aug Delivered Drayton
Winter Wheat: 5.09 -0.80 basis Aug Delivered Drayton
Corn: 3.11 -0.60 basis Aug Delivered Drayton
Soybeans: 7.57 -1.45 basis Aug Delivered Drayton
 

New Crop

           
Spring Wheat: 5.68   -0.65 basis Aug/Sept   Delivered Drayton
Corn: 3.07   -0.75 basis Oct/Nov   Delivered Drayton
Soybeans: 7.57   -1.45 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 (08/06)

Corn saw a tight trading range overnight ahead of this week’s report.  The USDA will release the August WASDE report on Friday August 10th.  The Corn Belt received some scattered rains this weekend, and forecasts do not show any new threats for the week ahead.  Look for mostly quiet trade today as a big move seems unlikely in front of Friday’s USDA report.

Soybeans traded lower overnight as tariffs continue to pressure the market.  Overall, U.S weather is OK but we could use a rain event in some areas sooner rather than later.  A private analyst is estimating U.S soybean yield at 50 bushels per acre, up slightly from July’s 49.8 bpa and above the USDA at 48.5bpa.  Look for mostly lower trade today.

Spring wheat traded higher overnight as EU dryness cuts into the world’s exportable supplies.  North Dakota and Montana were mostly dry over the weekend, harvest should increase daily this week.  A trusted industry source estimates U.S all wheat yield at 47 bushels per acre, down 48bpa in July and above the USDA at 47.5bpa.  Look for mostly higher trade on world weather issues.

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.) $9.76 $9.43 $9.13
CH19 (Mar.) $4.23 $4.05 $3.95
MWH19 (Mar.) $6.85 $6.82 $6.48

 

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
0.29 6.60 MWH19 2/20/2019
0.31 9.35 SH19 2/20/2019
0.15 3.90 CH19 2/20/2019

 

 

Futures markets as of 8:30 AM
Minneapolis Wheat: MWEU18 6.15 +0.03
Kansas City HRW: KWEU18 5.71 +0.04
Soybeans: SX18 8.91 -0.10
Corn: CU18 3.70 0.00

 

CHS Drayton Cash Prices
Spring Wheat: 5.50 -0.65 basis Aug Delivered Drayton
Winter Wheat: 4.91 -0.80 basis Aug Delivered Drayton
Corn: 3.10 -0.60 basis Aug Delivered Drayton
Soybeans: 7.56 -1.35 basis Aug Delivered Drayton
 

New Crop

           
Spring Wheat: 5.50   -0.65 basis Aug/Sept   Delivered Drayton
Corn: 3.04   -0.80 basis Oct/Nov   Delivered Drayton
Soybeans: 7.56   -1.35 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 (08/02)

Market Summary

Corn traded higher overnight with the September contract closing a penny off the overnight high of $3.69.  The market is finding support as heat begins to hit the western U.S growing areas.  Export sales for corn were 1278.2tmt, which is on the high side of the range 600 to 1,400tmt.  An industry analyst is projecting the corn crop at 178.1 bushels per acre, which is 4.1 bushels above the last USDA report.  Look for mostly higher trade today on strength from the wheat market.

Soybeans closed five cents lower overnight after trading a thirteen cent range overnight.  The market slipped overnight after President Trump said the U.S could increase tariffs to China to 25%.  Soybean export sales came in at 637tmt, which is on the low end of the range of 50 to 350tmt.  An industry analyst is projecting the soybean crop at 51.5 bushels per acre, 3.0 bushels above the USDA.  Look for mostly lower trade on rumors of increasing tariffs on China.

Spring wheat traded higher overnight as world weather concerns continue to support the market.  European heat and dryness remain an issue as the world’s exporter’s supplies appear to be tightening.  U.S harvest is winding down on winter wheat and picking up speed on spring wheat as demand is lacking and U.S supplies are increasing.  Look for higher trade today on weather concerns.

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.) $9.64 $9.52 $9.16
CH19 (Mar.) $4.17 $4.05 $3.93
MWH19 (Mar.) $6.75 $6.78 $6.49

 

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
0.22 6.70 MWH19 2/20/2019
0.32 9.40 SH19 2/20/2019
0.15 3.95 CH19 2/20/2019

 

 

Futures markets as of 8:30 AM
Minneapolis Wheat: MWEU18 6.15 +0.07
Kansas City HRW: KWEU18 5.73 +0.09
Soybeans: SX18 8.96 -0.05
Corn: CU18 3.68 +0.03

 

CHS Drayton Cash Prices
Spring Wheat: 5.45 -0.70 basis July Delivered Drayton
Winter Wheat: 4.93 -0.80 basis July Delivered Drayton
Corn: 3.08 -0.60 basis July Delivered Drayton
Soybeans: 7.61 -1.35 basis July Delivered Drayton
 

New Crop

           
Spring Wheat: 5.45   -0.70 basis Aug/Sept   Delivered Drayton
Corn: 3.02   -0.80 basis Oct/Nov   Delivered Drayton
Soybeans: 7.61   -1.35 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)

+.05 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 (07/31)

Monday July 30th through Wednesday August 1st pits B and C will be down due to maintenance.  If you must haul during this time, be aware we will be down to one pit and dumping will be slow.  Please call the office if you have any questions.  Thanks you.

Market Summary

Corn traded higher overnight as crop ratings hold steady but some areas complain of dryness with warm temps coming this week.  Crop conditions remain unchanged at 72% good/excellent.  However, silking is at76%, which is 21% ahead of last year and 16% ahead of the five year average.  This year’s corn crop is still estimated at 178 bpa.  Look for mostly higher trade today on strength from the wheat market.

Soybeans found strength overnight on fund buying, despite ongoing trade disputes with China.  Crop ratings held steady at 70% good/excellent, that’s 11% better than last year at this time.  60% of the crop is setting pods compared to a five year average of 41%.  Look for higher trade today on strength from soymeal and soy oil.

Spring wheat traded higher overnight on world weather concerns.  The September contract closed six cents higher this morning, just off the overnight high of $6.08.  Russia and the European Union remain dry which is causing production loss.  Russia is thought to have 15-20% lower production than last year due to dryness.  The spring wheat crop rating came in down 1% from last week at 78% good/excellent. Look for higher trade today on dry weather.

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.) $9.84 $9.53 $9.17
CH19 (Mar.) $4.05 $4.05 $3.95
MWH19 (Mar.) $6.65 $6.61 $6.34

 

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
0.25 6.40 MWH19 2/20/2019
0.21 9.15 SH19 2/20/2019
0.15 3.95 CH19 2/20/2019

 

 

Futures markets as of 8:30 AM
Minneapolis Wheat: MWEU18 6.07 +0.06
Kansas City HRW: KWEU18 5.54 +0.06
Soybeans: SX18 8.98 +0.07
Corn: CU18 3.70 +0.03

 

CHS Drayton Cash Prices
Spring Wheat: 5.42 -0.65 basis July Delivered Drayton
Winter Wheat: 4.74 -0.80 basis July Delivered Drayton
Corn: 3.10 -0.60 basis July Delivered Drayton
Soybeans: 7.63 -1.35 basis July Delivered Drayton
 

New Crop

Spring Wheat: 5.42 -0.65 basis Aug/Sept Delivered Drayton
Corn: 3.14 -0.70 basis Oct/Nov Delivered Drayton
Soybeans: 7.63 -1.35 basis Oct Delivered Drayton

 

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 11.5% (Max -1.15)

+.08 cents ea. 1/5 from 14.0% to 15.0%

+.00 cent bump at 15.0%  pro

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 (07/24)

Corn was weaker overnight as the futures gapped lower on favorable weather and high condition ratings. The December contract is currently at $3.67 with technical overhead resistance at the 50 day moving average of $3.87 and support at the contract low of $3.50.  Crop conditions came in at 72% good/excellent compared to 72% last week, the market was expecting a slight decline.  We are well above last year’s 62% at this time.  Look for lower trade today as corn has closed higher the last six days in row.

Soybeans also gapped lower overnight with resistance from a higher than expected condition report.  The November contract gapped three cents lower last night at the open and was unable to fill the gap overnight.  The soybean rating came in at 70% good/excellent up 1% from last week.  44% is setting pods, which is well ahead of the average 23% for this date.  U.S/China trade relations is still at the top of the list of news impacting the soybean market.  Look for basis to continue to slip if an agreement cannot be made with China.

Spring wheat was weaker overnight on short covering.  All three wheat exchanges traded lower overnight.  Spring wheat ratings dropped 1% but remain at 79% good/excellent compared to 80% last week.  This drop was expected as we inch closer to harvest.  Wheat’s momentum has seemed to have stalled but the market will keep a close watch on the Spring Wheat Tour which kicks off 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.) $9.45 $9.08 $8.77
CH19 (Mar.) $4.05 $3.85 $3.78
MWH19 (Mar.) $6.05 $6.03 $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
0.18 6.05 MWH19 2/20/2019
0.31 9.00 SX18 2/20/2019
0.12 3.80 CH19 2/20/2019

 

 

Futures markets as of 8:30 AM
Minneapolis Wheat: MWEU18 5.57 -0.04
Kansas City HRW: KWEU18 5.06 -0.04
Soybeans: SQ18 8.43 -0.04
Corn: CU18 3.53 -0.04

 

CHS Drayton Cash Prices
Spring Wheat: 5.02 -0.55 basis July Delivered Drayton
Winter Wheat: 4.26 -0.80 basis July Delivered Drayton
Corn: 2.98 -0.55 basis July Delivered Drayton
Soybeans: 7.25 -1.18 basis July Delivered Drayton
 

New Crop

Spring Wheat: 5.02 -0.55 basis Aug/Sept Delivered Drayton
Corn: 3.02 -0.65 basis Oct/Nov Delivered Drayton
Soybeans: 7.03 -1.40 basis Oct Delivered Drayton

 

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 11.5% (Max -1.15)

+.08 cents ea. 1/5 from 14.0% to 15.0%

+.00 cent bump at 15.0%  pro

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 (07/19)

Corn closed a fraction lower this morning after trading a narrow two cent range overnight.  The market remains rangebound as the December contract remains locked in a $3.50 to $3.65 range.  Weather forecasts look very favorable for corn growth as temperatures moderate over most of the corn belt.  Look for mostly lower trade today as favorable weather should keep corn on the defensive.

Soybeans traded two sided overnight with the August contract closing two cents off the session low. World demand remains strong with China the world’s largest buyer.  Premiums around the world are firming as the market compensates for the trade war.  Look for continued weakness on a lack of positive tariff news.

Spring wheat was weaker overnight with any real fresh news to trade on.  Europe and Russia remain dry as production will be reduced but the U.S has plenty on supply.  However, the U.S will need to see additional demand to drive prices.  Look for steady 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.) $9.35 $9.03 $8.73
CH19 (Mar.) $3.83 $3.85 $3.72
MWH19 (Mar.) $5.85 $5.75 $5.65

 

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
0.15 5.75 MWZ18 11/21/2018
0.15 8.95 SX18 10/24/2018
0.13 3.70 CH19 2/20/2019

 

 

Futures markets as of 8:30 AM
Minneapolis Wheat: MWEU18 5.30 +0.02
Kansas City HRW: KWEU18 4.90 +0.02
Soybeans: SQ18 8.38 -0.04
Corn: CU18 3.46 -0.01

 

CHS Drayton Cash Prices
Spring Wheat: 4.90 -0.40 basis July Delivered Drayton
Winter Wheat: 4.10 -0.80 basis July Delivered Drayton
Corn: 2.94 -0.52 basis July Delivered Drayton
Soybeans: 7.20 -1.18 basis July Delivered Drayton
 

New Crop

           
Spring Wheat: 4.75   -0.55 basis Aug/Sept   Delivered Drayton
Corn: 2.95   -0.65 basis Oct/Nov   Delivered Drayton
Soybeans: 7.23   -1.30 basis Oct   Delivered Drayton

 

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 11.5% (Max -1.15)

+.08 cents ea. 1/5 from 14.0% to 15.0%

+.00 cent bump at 15.0%  pro

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 (07/17)

Corn traded higher overnight with the September contract closing at the overnight high of $3.46.  The market found support after yesterday’s USDA crop condition report showed a decline.  The conditions went down 3% at 72% good/excellent.  This decline was more than expected and has the current rating only 2% above the 5 year average.  Look for higher trade today on support from lower crop conditions and a bounce from recent lows.

Soybeans closed five cents higher this morning with the August contract trading a nine cent range overnight.  The USDA dropped the U.S soy crop ratings to 69% from 71% last week.  65% are blooming and 26% are setting pods.  The current rating is only 3% above the five year average.  Look for higher trade today, however trade disputes with China will continue to limit any upside and weaken basis.

Spring wheat traded higher overnight with the September contract trading a four cent range.  Winter wheat harvest continues to move along with USDA projecting the crop 74% harvested.  The U.S spring wheat crop was unchanged at 80% good/excellent on yesterday’s report.  Look for higher trade on strength from row crops and taking back some of yesterday’s losses.

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.) $9.24 $9.04 $8.62
CH19 (Mar.) $3.80 $3.85 $3.71
MWH19 (Mar.) $5.85 $5.77 $5.65

 

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
0.14 5.75 MWZ18 11/21/2018
0.17 8.90 SX18 10/24/2018
0.13 3.70 CH19 2/20/2019

 

 

Futures markets as of 8:30 AM
Minneapolis Wheat: MWEU18 5.31 +0.03
Kansas City HRW: KWEU18 4.92 -0.02
Soybeans: SQ18 8.35 +0.05
Corn: CU18 3.46 +0.04

 

CHS Drayton Cash Prices
Spring Wheat: 4.91 -0.40 basis July Delivered Drayton
Winter Wheat: 4.12 -0.80 basis July Delivered Drayton
Corn: 2.94 -0.52 basis July Delivered Drayton
Soybeans: 7.17 -1.18 basis July Delivered Drayton
 

New Crop

           
Spring Wheat: 4.76   -0.55 basis Aug/Sept   Delivered Drayton
Corn: 2.94   -0.65 basis Oct/Nov   Delivered Drayton
Soybeans: 7.21   -1.30 basis Oct   Delivered Drayton

 

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 11.5% (Max -1.15)

+.08 cents ea. 1/5 from 14.0% to 15.0%

+.00 cent bump at 15.0%  pro

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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