Posts By: Eric Peterson

Morning Market Wire

Tuesday Sept 20, 2022                                               By: Eric Peterson

Corn traded higher overnight with the December contract closing three cents higher.  Corn was rated at 52% good/excellent, down 1 pt from last week and the lowest number since 2012.  Nebraska declined the most, down 5 to 37% good/excellent.  The crop is currently 7% harvested, up 2 from last week and just below the 8% average.  Look for slightly higher trade today as the market found support yesterday at its 20 and 100 day moving average.    

Soybeans traded lower overnight but were able to stay above the 200 day moving average of $14.50.  Soybeans are 3% harvested vs 5% on average for this date.  The crop is rated at 55% good/excellent down 1 pt from last week.  The USDA announced yesterday morning a sale of 136tmt soybeans to China for 2022/23.  Look for slightly weaker trade in light volume.        

Spring wheat traded higher overnight as the rangebound trade continues.  Spring wheat harvest is wrapping up at 94% complete.  The U.S winter wheat crop is 21% planted vs. the 17% average for this date.  That is the highest percentage since 2009.  Look for a small bounce today after yesterday’s sharp sell off.

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 Sept 14, 2022                                               By: Eric Peterson

Corn turned lower overnight with the December contract closing six cents lower this morning.  Weakness came overnight on profit taking after recent strength.  The European crop continues to suffer from extended periods of hot/dry weather conditions. Look for two sided trade from lower crop ideas and concerns of slowing demand.      

Soybeans closed a fraction lower this morning after trading two sided overnight.  Support came from smaller crop ideas and pressure from uncertainty about future export business and outside influences. Look for mostly two sided trade today ahead of harvest.    

Spring wheat closed unchanged this morning with pressure on profit taking after recent gains.  Prices are drawing additional pressure on weakness in the corn market.  December wheat continues to consolidate near the 90 day moving average.  Look for steady to lower trade today.    

Old Crop PremiumNew Crop TargetTrigger Date
0.50$10.50 MWU238/25/23
0.45$15.00 SX2310/21/23
0.35$7.00 CZ2311/25/23

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 Aug 31, 2022                                               By: Eric Peterson

Corn was lower overnight, taking back all that what gained this past Monday.  December corn traded below the 100 day moving average yesterday but managed to finish above it.  U.S yield and production continue to be debated and how it will impact U.S carryout, however demand appears to be at issue as well.  Look for slightly lower trade today as the market struggles to gain momentum.        

Soybeans closed fourteen cents lower this morning with the November contract trading a relatively wide 25 cent range.  China demand remains strong as South America still has soybeans to sell and will gear up to plant the next crop very soon. U.S weather continues to look mostly favorable as some areas could use some rain.  Look for a lower start today as the market continues its rangebound pattern.    

Spring wheat saw light two sided trade overnight.  Much of the Northern hemisphere remains in harvest as the global supply of wheat is being replenished.  U.S and Canada spring wheat harvest will gain momentum over the next 30 days as the later planted crop hits maturity.  Look for the selling pressure to continue as Ukraine continues to see exports along with a very strong U.S dollar hurting exports.    

Old Crop PremiumNew Crop TargetTrigger Date
0.4810.50 MWU238/25/23
0.2815.00 SX2210/21/22
0.286.60 CZ2211/25/22

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 Aug 29, 2022                                               By: Eric Peterson

Corn traded higher the majority of the night as the market debates the U.S corn production and yield.  Overnight, December corn broke through last week’s high of $6.71 getting to $6.7475.  The Pro Farmer tour estimated the U.S corn yield at 168.1 bushels per acre compared to 177 bpa last year.  Look for mostly higher trade today with support from a lower than expected yield estimate.      

Soybeans closed eight cents lower this morning with the November contract trading a twenty cent range overnight.  Weakness came as the crop tour showed a crop that was close to the USDA forecasts as better rains in August have helped the crop.  The tour came in at 51.7 bushels per acre with production at 4.535 billion bushels.   Look for pressure today with a good crop outlook. 

Spring wheat saw light two sided trade overnight.  Much of the Northern hemisphere remains in harvest as the global supply of wheat is being replenished.  U.S and Canada spring wheat harvest will gain momentum over the next 30 days as the later planted crop hits maturity.  Look for the selling pressure to continue as Ukraine continues to see exports along with a very strong U.S dollar hurting exports.    

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 Aug 23, 2022                                               By: Eric Peterson

Corn traded much higher overnight after day one of the ProFarmer tour showed a much lower yield than expected.  The tour found an average yield in South Dakota of 118.45bu per acre vs. the three year average of 161.59.  Look for mostly higher trade today with support from a drop in the crop ratings and  Pro Farmer results; however the weather looks supportive to finish out the crop. 

Soybeans found support overnight from lower crop ratings as well as a stronger complex.  November saw overnight highs get within three of its 100 day moving average, which we haven’t been able to hold since June.  USDA crop ratings were at 57% good/excellent down 1% from last week.  Look for mostly higher trade today.      

Spring wheat closed ten cents higher this morning, five cents off the overnight high.  The winter wheat crop is 95% harvested.  Spring wheat was reported to be at 33% harvested behind the five year average of 54%.  Futures will look for stronger markets to hold for the third day in a row as we seem to trade higher based on technical buying.   

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 Aug 22, 2022                                               By: Eric Peterson

Corn was two sided but mostly lower overnight.  December futures is around a nickel lower from its 200 day average that we haven’t spent much time above since June.  The Pro Farmer tour begins today and will wrap up on Thursday.  The stops will be in OH and SD today, IN and NE on Tuesday.  Look for choppy to lower trade as news remains mostly routine. 

Soybeans were two sided overnight with the November contract trading a 20-25 cent range overnight.  November soybeans saw both sides of $14.00.  Rains look to have fallen over the majority of the central/eastern corn belt over the weekend, updated 7 day precipitation maps call for more spotty showers.  Demand for new crop soybeans remains questionable as China’s economy shows signs of slower growth.    

Spring wheat closed nearly unchanged this morning with the September contract trading a narrow nine cent range overnight.  Ukraine’s grain traders union cut there estimate for combined grain and oilseed crops to 64.5mmt down from 69.4mmt due to a smaller than expected area caused by the Russian invasion.  Look for the wheat market to remain under pressure as rains fall on winter wheat areas and spring wheat harvest is expected to find good numbers.   

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 Aug 17, 2022                                               By: Eric Peterson

We have the following the Twins tickets available to our customers, please call for details.

Aug ticket availability:

  • Friday, August 26 – 10 Dugout (groups of 7 and 3)
  • Sunday, August 28 – 10 Dugout (groups of 7 and 3)
  • Monday, August 29 – 10 Dugout (groups of 7 and 3)
  • Wednesday, August 31 – 10 Dugout (groups of 7 and 3)

Corn was two sided overnight in light volume, rangebound trade.  The December contract gets closer to the $6.00 mark.  U.S weather looks mostly favorable with some rain in the southern plains and near the Canadian border.  Corn is expected to remain volatile on the ever changing weather forecasts.   

Soybeans closed double digits higher this morning with the November contract closing a nickel off the overnight high of $14.00.  The market found strength on good crush values.  December soybean oil prices remain near their prices in over a month.  Look for mostly higher trade today on strength from the soybean meal and oil markets. 

Spring wheat traded higher overnight on a correction after yesterday’s selloff.  Ukraine is expected to have five ships arrive at its Chornomosk Blac Sea port today for loading more than 70,000 tonnes of agricultural products.  Look for the market to remain very volatile as the global supply remains tight. 

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
SX22 Oct22$14.45$14.25$13.95
CZ22 Oct22$6.45$6.35$6.15
MWZ22 Dec22$9.40$9.25$9.18

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

Corn opened lower and continued lower through the overnight session.  September corn traded a 10 cent range overnight.  Yesterday’s crop condition report showed corn at 57% good/excellent, down 1% from last week.  Crop consultant Dr. Cordonnier cut his corn yield forecast by 1 bu. to 173 bu per acre amid the continued deterioration of crop condition ratings.  Look for the market to remain volatile as rain remains in the forecast for much of the corn belt. 

Soybeans saw two sided trade overnight as the market was on either sided of the 200 day moving average of $13.97.  Yesterday’s crop rating report showed soybeans at 58% good/excellent down 1% from last week and up 1% from last year at this time.  Look for lower trade today as forecasted rains look favorable for the development of the bean crop.    

Spring wheat closed lower this morning after trading ten cents higher at one point last night.  Crop progress showed spring wheat harvest at 16% complete and rated at 64% good/excellent unchanged from last week.  The wheat market remains volatile as the supply is tight and the war in the Ukraine continues.              

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
SX22 Oct22$14.45$14.25$13.97
CZ22 Oct22$6.45$6.35$6.21
MWZ22 Dec22$9.40$9.25$9.15
Old Crop PremiumNew Crop TargetTrigger Date
0.2510.20 MWZ2211/23/22
0.2115.00 SX2210/21/22
0.206.60 CZ2211/25/22

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 Aug 15, 2022                                               By: Eric Peterson

We have the following the Twins tickets available to our customers, please call for details.

Aug ticket availability:

  • Friday, August 26 – 10 Dugout (groups of 7 and 3)
  • Sunday, August 28 – 10 Dugout (groups of 7 and 3)
  • Monday, August 29 – 10 Dugout (groups of 7 and 3)
  • Wednesday, August 31 – 10 Dugout (groups of 7 and 3)

Corn opened lower and continued lower through the overnight session.  September corn gapped four cents lower and closed 19 cents lower this morning.  The market traded lower on favorable weather, heightened Chinese tensions along with economic concerns.  Look for volatile trade to continue as the crop matures. 

Soybeans opened double digits lower last night and closed the session 48 cents lower.  August weather is important for soybeans and it appears some areas are forecasted to get rains this week.  Look for the sharply lower trade to continue today as weather forecasts look mostly favorable for crop development. 

Spring wheat traded lower overnight following the weakness in the corn and soybeans markets.  The U.S remains in harvest and harvest will increase over the next few weeks.  Overall, most wheat contracts consolidate at the lower end of the extended trading ranges.  Look for the volatile trade to continue as the supply is tight and the war in Ukraine continues.                 

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
SX22 Oct22$14.4514.25$14.05
CZ22 Oct22$6.45$6.35$6.22
MWZ22 Dec22$9.40$9.25$9.12
Old Crop PremiumNew Crop TargetTrigger Date
0.3510.20 MWZ2211/23/22
0.2715.80 SX2210/21/22
0.226.60 CZ2211/25/22

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 Aug 12, 2022                                               By: Eric Peterson

Corn saw light two sided trade overnight as money flows into the market ahead of today’s USDA report.  The USDA will release crop production and Supply and Demand report today at 11am.  Yield numbers will be the primary focus on today’s report.  There is a wide range of yield estimates for today’s report, from 173.2-177.6 bpa, last months was at 177.0 bpa.  Look for mostly lower trade this morning ahead of the report.     

Soybeans opened lower last night on positioning ahead of the release of today’s USDA crop production and Supply and Demand report.  The average yield estimate for today’s report is 51.1 slightly below last months USDA estimate of 51.1. Prices continue to draw underlying support from the hot/dry weather during the critical pod filling stage.  Next week’s crop condition report is expected to show a 1-2% decline.  Look for lower trade this morning ahead of the report.                            

Spring wheat traded lower overnight with the September contract closing nine cents lower just above the session low of $9.10. Prices were lower on positioning ahead of today’s report.  Prices drew additional pressure from a rebound in the U.S dollar.  Traders are expecting a 400k acre increase in spring wheat acres.  Spring wheat harvest is slow as much of the crop needs a couple more weeks to mature.  Look for mostly lower trade this morning.               

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.)

Old Crop PremiumNew Crop TargetTrigger Date
0.3510.20 MWZ2211/23/22
0.2715.80 SX2210/21/22
0.226.60 CZ2211/25/22

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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