Morning Market Wire

Thursday November 21, 2019 by: Eric Peterson

Corn traded two sided overnight with the December contract closing a penny higher. First notice day is next week and we will soon be rolling bids to the March contract. Technically, the December contract is attempting to hold onto the top side of the gap, which begins at $3.68. The Dec/March spread has widened out to 10 ½ cents, and Dec/July at 22 cents. Seasonally, these spreads will narrow as we get past first notice day. Look for mostly steady trade this morning.

Soybeans traded higher overnight after having difficulty yesterday as the session wore on. There is support at the $9.00 level so it may look to test that gap again. That would fill the gap that was made after the November soybeans expired. The President continues to use the tariff threat against China if a deal isn’t signed by December 15th and the Chinese are optimistic that a deal will be signed.

Spring wheat was lightly mixed overnight as news remains routine. Minneapolis wheat is attempting to hold on to the psychological support at $5.00. Chicago wheat has been strong compared KC and Mpls, any strength here will force the other tow markets up. Look for 1-2 cents higher today as Chicago leads the other two markets this week.

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.)

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!

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.

Morning Market Wire

Wednesday November 20, 2019 by: Eric Peterson

Drayton will be dumping corn and soybeans today from 8:00am to 5:00pm. Please CALL BEFORE YOU HAUL.

Corn traded lower overnight with the December contract trading a two cent range. The market is still hovering just above the gap at $3.67 on the continuous chart. Without any news to spark this mark we continue to trend downward. Poor export demand and seasonals pointing down going into first notice day are keeping prices stagnant. Look for mostly lower trade today as the gap below looks to be the next downside target.

Soybeans higher overnight but lower into the close with the January contract closing two cents higher. Technically, the continuous bean chart is showing some convergence with topside resistance at roughly $9.17. Downside is a bit more unclear but appears to be in the $9.06 area which would get us into the gap that begins at $9.10. Look for mostly quiet trade today as the market awaits export news to move the market.

Spring wheat closed a fraction lower this morning with the December contract trading a four cent range. Minneapolis wheat continues to lag behind with Chicago wheat now at a premium to Minneapolis December. Winter wheat continues to draw strength from declining crop conditions. Look for mostly flat to lower trade today as spread action will likely be the main driver 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.)

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!

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.

Morning Market Wire

Tuesday November 19, 2019 by: Eric Peterson

Drayton will be dumping corn and soybeans today from 8:00am to 5:00pm. Please CALL BEFORE YOU HAUL.

Corn closed a penny higher this morning after trading a two cent range overnight. December corn sits just below $3.70 with the contract low below at $3.52. The USDA pegged crop progress at 76% complete yesterday just behind the average estimate of 77% and much farther behind the five year average of 92%. Look for weaker trade as we get closer to first notice day.

Soybeans attempted to rebound overnight after yesterday’s poor day. Lack of news and exports continue to weigh down the market. Technically, the continuous chart is showing a gap when November soybeans expired so with the lack of strong fundamental news, it appears to be a good time for the market to cover this. The downside of that gap is $9.01, so that may be the target this week.

Spring wheat saw a quiet overnight session with the December contract trading inside a penny range. The market continues to lack any major news to trade off. Winter wheat plantings are 95% complete which was in line with estimates. Winter wheat conditions were 52% good/excellent down 2% from last week.

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.)

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!

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.

Morning Market Wire

Monday November 18, 2019 by: Eric Peterson

Drayton will be accepting corn today but please CALL BEFORE YOU HAUL.

Corn closed nearly unchanged this morning with the December contract trading a narrow one cent range overnight. Overall, should have been a good harvest weekend again, with propane supply possibly the biggest issue the last few weeks. Export sales are still slow at 574tmt for the week. After a narrow range overnight look for an unchanged open unless there are any unexpected sales reported.

Soybeans traded two sided overnight with the January contract trading a relatively wide seven cent range. Technical support is below at the 100 day moving average of $9.12 with resistance above at the 50 day moving average of $9.25. Trade negotiations continue but any agreement still appear to be a ways off. Look for mostly choppy trade today as any trade progress seems to be lacking.

Spring wheat traded lightly mixed overnight as once the market is lacking any major fresh news. A large global supply along with disappointing U.S export also add pressure to the market. Look for wheat to follow the weakness in corn 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.)

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!

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.

Morning Market Wire

Friday November 15, 2019 by: Eric Peterson

Drayton will be accepting taking wet and dry soybeans today. Please call for corn schedule.

Corn closed unchanged this morning after closing a ½ cent higher yesterday. Prices were able claw their way back to positive territory yesterday on hopes of increased feed demand and decent ethanol production and stocks numbers. Harvest activity could be tough with forecasts of warmer temperatures across the U.S Midwest this weekend. Look for mostly choppy trade today.

Soybeans traded two sided overnight with the January contract closing two cents higher. The market has been mixed on concerns over U.S/Chinese trade war issues including in the “Phase One” agreement. Talk is that both sides are involved with in depth discussions to resolve issues like rolling back tariffs. Look for steady to higher trade as Brazil weather forecasts look to be dryer.

Spring wheat closed a penny lower this morning with the December contract trading a narrow two cent range overnight. The wheat market has been under pressure on plentiful global supplies and light demand for U.S wheat. Egypt bought a fair amount of wheat for January and there was no U.S wheat in the mix. Look for lower trade today on a lack of export sales.

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.)

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!

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.

Morning Market Wire

Thursday November 14, 2019 by: Eric Peterson

Drayton will be accepting dry soybeans today only. Please no corn and no wet soybeans today.

Corn closed a fraction higher this morning. December corn traded a narrow three cent range overnight. The market has been under pressure as of late in sympathy of the wheat market and ideas that supplies are plentiful despite delays in this year’s harvest. Look for choppy trade today as the market attempts to hold on to gains from overnight.

Soybeans were weaker overnight with the January contract closing two cents lower. Pressure seems to be coming from the appearance that a U.S/China Phase 1 deal may not be that close after all. China wants tariffs dropped and doesn’t want to commit to volume. Look for mostly lower trade on continued good South American growing conditions and tensions with China trade.

Spring wheat traded lower overnight on waning concerns of damage to the recently planted winter wheat crop from this week’s frigid temperatures. Dry weather conditions for the next week or so looks beneficial for the Australian wheat harvest. Look for mostly choppy trade today as the market awaits new news to trade on.

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.)

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!

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.

November 13th Soybean/Corn Hauling Schedule

Good morning everyone! We here at CHS are making every effort to get inventories under control and moved around to get ready for Wet corn and Wet soybeans.

We are loading anther train today and will continue to work around the clock to get grain moved. We are looking at being in full swing On Monday the 18th for 51# or better corn and soybeans. We will be dumping corn at pit B & C and Soybeans at pit A. we are asking you to call and make arrangements to haul.

This Late and wet harvest has been very trying for us all and we are doing everything we can to help you get it off the field. Again corn needs to be 51# or better to be dumped as of now if TW get better we will be able to take some lower TW corn.

We thank you for your business and Patience over the last few weeks. STAY SAFE!

Harold Weimer General Manager CHS Drayton, ND

Morning Market Wire

Tuesday November 12, 2019 by: Eric Peterson

Drayton will be closed for dumping today as we are loading a train.

Corn closed a fraction higher this morning after a quiet overnight market. The December contract has failed to break through $3.725 over the previous two trading sessions. Today’s crop progress report is expected to show harvest around 65-68% complete, behind the five year average of 85%. Look for mixed trade today as the market struggles to find buyers to push it higher.

Soybeans saw mixed trade overnight as the market continues to struggle to move higher. Crop progress is expected to show harvest around 86-89% complete compared to 75% last week. President Trump is expected to give a speech at the Economic Club of New York today where he is expected to make comments on trade and an update on where things sit with China. Look for mostly flat trade as the market awaits the President’s comment on trade this afternoon.

Spring wheat traded weaker overnight with the December contract closing just above the overnight low of $5.15. Technically, support lies below at $5.13 with resistance above at $5.27. The market seems to have a weaker tone despite the USDA tightening U.S carryout last Friday to 1.014bb. On a thin news morning, look for all three wheat markets to follow corn and soybeans lower.

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 BonusDaily Price PlusFutures at 8:00am
SX20 Oct20$10.09$9.90$9.56
CZ20 Oct20$4.20$4.10$3.98
MZ20 Dec20$6.13$5.90$5.72

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 PremiumNew Crop TargetTrigger Date
0.206.10 MWZ2011/20/20
0.1910.20 SX2010/23/20
0.124.20 CZ2011/23/20

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.

Morning Market Wire

Monday November 11, 2019 by: Eric Peterson

Happy Veteran’s Day! Thank you to all that have and still serve our nation!

Drayton will be closed for dumping today as we are loading a train.

Corn gapped lower overnight as the continued harvest continues to pressure the market. On Friday’s report, the USDA lowered 2019/2020 yield to 167.0 bushels per acre, lowering production to 13.661bb. Harvest progress was last reported at 52% with expectations of being 60-70% complete through Sunday. Look for corn to follow soybeans lower as there is not much fresh news to trade.

Soybeans were under pressure overnight after Friday’s bearish USDA report. The USDA left the 2019/20 harvested acres and yield unchanged from their October report. The only change made to either balance sheet was 15.0 mb reduction in crush for 2019/20, which raised ending stocks. Look for mostly lower trade today after a negative report on Friday and a slow pace of trade negotiations with China.

Spring wheat traded weaker overnight with the December contract closing just above the overnight low of $5.15. Technically, support lies below at $5.13 with resistance above at $5.27. The market seems to have a weaker tone despite the USDA tightening U.S carryout last Friday to 1.014bb. On a thin news morning, look for all three wheat markets to follow corn and soybeans lower.

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 BonusDaily Price PlusFutures at 8am
SX20 Oct20$10.17$10.05$9.62
CZ20 Oct20$4.22$4.16$3.99
MZ20 Dec20$6.11$6.05$5.70

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 PremiumNew Crop TargetTrigger Date
0.246.10 MWZ2011/20/20
0.2410.20 SX2010/23/20
0.15$4.20 CZ2011/23/20

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.

© 2019 CHS Inc.