Posts By: Eric Peterson

Morning Market Wire

Thursday February 20, 2020 By: Eric Peterson

Thursday 2/20– Drayton will be taking wet/dry wheat. Please call for corn.

Friday 2/21- Drayton will be taking wet/dry wheat only. On lot by 3:30pm

Corn was weaker overnight in subdued trade as the March contract trades a narrow two cent range. Technical resistance is at the 50 day moving average of $3.84. The December contract back below $3.90 with the contract low of $3.87 acting as technical support. The average trade estimate from a Reuters poll ahead of today’s USDA outlook forum estimates 2020 corn planted acres at 93.6 million. Yeild is pegged at 176.5 bpa, production at 15.111 billion bushels.

Soybeans traded lower overnight with the March contract trading a seven cent range. March soybeans has seemed to consolidate into a $9.00 to $8.90 range. No news of China buying large quantity of soybeans from the Phase 1 agreement. Look for mostly weaker trade as the market awaits for Chinese demand meanwhile South America’s crop continues to grow.

Spring wheat traded lower overnight as we are apparently unable to hold early week gains. Rumors that China has bought some U.S spring wheat is providing underlying support. But the country report exporters are having difficulties with low falling numbers. Look for slightly weaker 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.)

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 2/18

Tuesday February 18, 2020 By: Eric Peterson

Corn closed two cents higher this morning with the March contract trading a four cent range. The Phase One Trade Agreement has gone into effect. China says they will live up to their commitment to increase their purchases of U.S ag goods. Look for limited gains as the South American weather conditions look to be mostly favorable for the corn crop.

Soybeans saw two sided trade overnight with the March contract closing a penny lower. The market continues to await on any updates on the coronavirus as well as any buying action out of China. South American weather conditions continue to be mostly favorable, although there are areas that have issues of dryness. Brazil is said to be on pace for harvesting a record soybean crop this year.

Spring wheat closed eight cents higher this morning with the March contract closing five cents off the overnight high. Minneapolis wheat followed the strength in the KC and Chicago markets. Heavy rains in parts of England and the EU which has caused flooding is also providing support. Look for mostly higher 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.)

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 2/13

Thursday February 13, 2020 By: Eric Peterson

Corn traded weaker overnight after seeing a bounce yesterday. The March contract remains rangebound with the 50 day moving average acting as resistance at $3.84. The first look at 2020 U.S acres will be March 31 but seeing estimates already at 92 million. Look for two sided trade today as we bounce off the most recent lows.

Soybeans closed a fraction lower this morning with the Mach contract trading a six cent range. The market was weaker the majority of the night but managed to stay above yesterday’s low. The effective date of the Phase 1 deal is February 15th and the market is hoping to see the U.S sees some business from China next week. Look for weaker trade today as the market awaits business from China.

Spring wheat trade was choppy overnight as the market continues to trend lower. Like soybeans, the wheat market is hoping for some Chinese business next week as Phase 1 deal goes into effect this weekend on February 15th. Today’s export sales came in at 643.1 tmt in line with expectations of 300-650tmt. Look for lower trade today on spillover weakness from corn and soybeans.

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 2/11

Tuesday February 11, 2020 By: Eric Peterson

Corn traded weaker overnight, trading above support levels as the market awaits for the USDA report. The USDA will release the February WASDE report today at 11:00am. The market is expecting ending stocks to decrease to 1.864 billion bushels vs. 1.892 billion bushels in January. Look for a weaker market as prices hang around the low end of the range, waiting for supportive news to come.

Soybeans were mixed overnight with the March contract trading a five cent range. The market is still trying to figure out how the coronavirus is going to impact the Chinese demand. As of now, they are still buying soybeans, but mostly from Brazil. There are now 1,016 people that have passed away due to the coronavirus with 42,638 cases confirmed. 99% of the cases are in China and remains an emergency in that country. Look for limited upside today we continue to lack a strong export market.

Spring wheat closed nearly unchanged this morning as the market awaits fresh news. Today’s WASDE report is not expected to show much changes from January’s report as the market is expecting all wheat ending stocks to be at 954 million bushels vs. 965 million bushels in January. Look for slightly stronger trade as good international business should provide support to the market.

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

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 February 10, 2020 By: Eric Peterson

Drayton and all locations will be closed Wednesday Feb. 12th for employee training.

Monday 2/10– Drayton will be taking dry 14.0 pro wheat, wet/dry soybeans. Please call for wet wheat.

Corn was weaker overnight, dropping back down from Friday’s bounce higher. The WASDE report set for release tomorrow morning isn’t expected to bring much change to the fundamental scenario. The funds increased their short in the latest commitment of trader’s report by 26,514 contracts to be net short 55,990 contracts. Look for mostly lower trade with prices back down close to support levels.

Soybeans traded two sided overnight with the March contract trading a five cent range. The coronavirus continues to dominate the headlines as the reported death toll is now 908 people with 40,171 cases confirmed. China continues to say they will meet the phase one trade deal requirements despite the coronavirus outbreak. Look for limited upside trade today on a big crop coming out of South America and a lack of Chinese buying.

Spring wheat trade remains choppy with no fresh news to trade on. Tomorrow’s WASDE report is not expected to show much changes from January’s report with ending stocks last estimated at 965 million bushels. Look for more sideways trade to continue as the market awaits for international business to pick up.

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.)

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 2/7

Friday February 7, 2020 By: Eric Peterson

Drayton and all locations will be closed Wednesday Feb. 12th for employee training.

Friday 2/7– Drayton will be taking dry 14.0 pro wheat, wet/dry soybeans, and dry corn. Please call for wet wheat.

Corn saw light strength overnight as futures consolidate into a mostly sideways pattern. Technical support for the March contract seems to be below at $3.75. Support for December corn is at the contract low of $3.87. Look for mostly steady trade today as news remains mostly routine as China and the rest of the world fight coronavirus and its economic impact on global trade.

Soybeans traded two sided overnight with the March contract closing a fraction higher. Weakness came overnight as the Phase 1 deal has not taken affect yet and China movement has slowed because of coronavirus. Argentina has had perfect weather for their soybeans so far, with 2 week forecasts also looking favorable. Look for rangebound trade today as the market awaits the February 15th WASDE report.

Spring wheat traded two sided overnight with the March contract closing two cents off the overnight high of $5.36. News that China is buying French wheat continues to add pressure to the market. U.S winter wheat is in mostly favorable shape with recent snow and precipitation. Look for slightly higher trade as wheat is trying to hold its head above its 50 day moving average.

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 2/5

Wednesday February 5, 2020 By: Eric Peterson

Drayton and all locations will be closed Wednesday Feb. 12th for employee training.

Wednesday 2/5- Drayton will be taking dry 14.0 pro wheat, wet/dry soybeans, and dry corn. Please call for wet wheat.

Corn saw quiet trade overnight with the March contract closing a fraction higher. It seems the market is settling into some new trade ranges with the lackluster news. March corn is very close to the fifty day moving average of $3.83. The 100 day moving average is above at $3.88. Look for slightly higher trade today with market picking up support form rains in Brazil which will delay the Safrinha corn planting season.

Soybeans closed six cents higher this morning with the March contract closing two cents off the overnight high of $8.88. This is the third consecutive session that soybeans have closed higher. Support came overnight on strength in the stock market and a bounce in the energy market. However, gains will be limited from slowing demand as the coronavirus continues to spread throughout China.

Spring wheat followed the strength in the soybeans market with March Minneapolis wheat closing four cents higher this morning. Support came on strength in the equity markets. For the most part news remains light as the market is trying bounce off the low end of the range. The U.S southern plains should see beneficial moisture from this week’s rain/snow winter storm that is moving from the south.

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 1/30

Thursday January 30, 2020 By: Eric Peterson

Corn traded lower overnight with the March contract closing down three cents. March corn should find support near the January low of $3.75. The market continues to slide as many are concerned about the spread of coronavirus and the cause it may have on an economic slowdown. Weekly exports were higher than expected at 1,234,700 compared to estimates ranging from 600,000 to 1,200,000 tonnes. Look for mostly lower trade today.

Soybeans were weaker overnight with the March contract closing at the session low of $8.85. This is the eighth day in a row of lower prices. The Brazilian real continues to weaken, trading at 4.2494. This is the weakest its been against the dollar since early December. Look for mostly lower trade today as the coronavirus continues to spread and its effect on demand is unknown.

Spring wheat traded lower overnight with the March contract trading a five cent range. All three wheat exchanges were lower for the third consecutive day. The unknown impact of coronavirus as well as thoughts that market is overbought continue to pressure prices. Look for weaker trade today with winter wheat seeing shaper losses than spring wheat.

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 1/29

Wednesday January 29, 2020 By: Eric Peterson

Wednesday 1/29– Drayton will be taking wet/dry soybeans and dry corn. Thursday 1/30– Drayton will be taking wet/dry soybeans and dry corn Friday 1/31– Drayton will taking wet/dry soybeans and dry corn.

Corn traded two sided overnight but continues to be rangebound. The market seems content to continue its sideways movement. Technical resistance for the March contract is above at the 200 day moving average of $3.87. Large spec and managed money funds remain short, which leaves the market susceptible to short covering. Look for mostly lower trade today as Coronavirus remains in the headlines.

Soybeans closed a fraction higher this morning with the March contract trading an eight cent range overnight. Soyoil was higher overnight which provided strength to the market. Additional strength in soybeans stems from the market being oversold and due for correction. Look for weaker trade as coronavirus continues to spread and China looks like they will keep things closed for an extended holiday until next week.

Spring wheat traded lower overnight with Minneapolis March wheat closing five cents lower this morning. Wheat markets were lower across the board overnight and are currently at the low end of their trading ranges. March spring wheat broke below its 100 day moving average for the first time in over a moth which is currently at $5.39. Look for weakness to continue 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!

11/20/2020

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 January 28, 2020 by: Eric Peterson

Tuesday 1/28- Drayton will be taking dry wheat, wet/dry corn.

Wednesday 1/29– Drayton will be taking wet/dry soybeans and dry corn. Thursday 1/30- Drayton will be taking wet/dry soybeans and dry corn Friday 1/31– Drayton will taking wet/dry soybeans and dry corn.

Corn traded two sided overnight with the March contract trading a four cent range. Coronavirus continue to spread with reports this morning of over 4,500 cases and just over 100 deaths in China. Brazilian and Argentine corn crop estimates are unchanged at 100.0 million tonnes and 47.5 million tonnes respectively. Look for lower to unchanged trade today on uncertainty.

Soybeans continued to trend lower overnight as Coronavirus continues to spreads and its impact on demand is uncertain. Additionally, the market seems disappointed after having the U.S China deal signed, we have not seen China step up to make large purchases. Look for weaker trade today on uncertainty over coronavirus as well as continued favorable conditions for the South American crop.

Spring wheat closed lower this morning with the March contract trading a relatively wide nine cent range overnight. Technical support is below at the 100 day moving average of $5.39 then the 50 day moving average of $5.35. Resistance is above at $5.49. Look for lower trade today on continued virus chatter and its effect on 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.)

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.

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