Posts By: Eric Peterson

CHS Drayton Morning Market Wire (3/31)

Grain markets were higher overnight. Following the overnight session, corn is up one cent, soybeans are down one cent, and spring wheat is two cents higher.

-The USDA Prospective Plantings and Quarterly Grain Stocks reports will be released today at 11:00am.  

Corn closed a cent higher this morning after trading a narrow two cent range overnight. The average estimate of corn acres in today’s report is 90.97 million acres.  USDA planted acreage for 2016 was 94.004 million acres.  The average estimate for corn stocks as of March 1st is 8.534 billion bushels.  Look for tentative price action until the report comes out at 11:00am.

Soybeans traded two sided overnight with the May contract closing down a penny. The average estimate for soybean acres is 88.21 million.  USDA 2016 planted acreage was 83.433 million.  The quarterly stocks estimate is 1.684 billion bushels.  The trade will be positioning this morning in front of the report.

Spring wheat closed two cents higher this morning closing at the overnight high of $5.46. The acreage estimate for all wheat is 46.14 million.  32.55 million for winter wheat, 11.35 million for spring wheat and 2.115 million for durum.  Wheat is expected to be a follower of corn today unless a surprise comes out of the report.

If you have any questions or know anyone who would like to receive this email, please email me at  or give me a call at the office at 701-454-3351. Have a great day!


Futures markets as of 8:30 AM
Minneapolis Wheat: MWEK17 5.46 +0.02
Kansas City HRW: KWEK17 4.18 +0.01
Soybeans: SK17 9.61 -0.01
Corn: CK17 3.58 +0.01


CHS Drayton Cash Prices
Spring Wheat: 4.91 -0.55 basis Mar Delivered Drayton
Winter Wheat: 3.13 -1.05 basis Mar Delivered Drayton
Corn: 2.88 -0.70 basis Mar Delivered Drayton
Soybeans: 8.43 -1.18 basis Mar Delivered Drayton


Spring Wheat Protein Scales

-.06 cents ea. 1/5 down from 14.0% to 13.0%

-.06 cents ea. 1/5 down from 13.0% to 11.0%

+.04 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.


© 2022 CHS Inc. | Cookie Preferences