Morning Market Wire

Friday May 13, 2022                                               By: Eric Peterson

Corn traded slightly higher overnight, holding support from yesterday’s higher trade in response to the WASDE report numbers.  The USDA pegged 22/23 corn production at 14.46 billion bushels vs 14.773 billion estimate.  Corn yield estimate is 177 bushels/acre compared to the average estimate of 181 bpa.  Look for higher trade today, holding support from yesterday as the December 22 contract made new highs overnight.     

Soybeans traded higher overnight following the strength in the soybean meal and oil.  Yesterday’s WASDE report came in line with market expectations for the most part.  The ending stocks for new crop were estimated at 310 million bushels compared to 235 million last year.  2022/23 production and yield came in close to the trade estimate at 4.64 billion bushels vs 4.613 billion estimate, yield 51.5 bushels vs 51.4 bpa estimate.  Look for mostly higher trade today.   

Spring wheat traded higher overnight with Minneapolis July wheat closing 7 cents higher.  The market continues to climb as much of ND and Northwest MN get more rain yesterday, continuing to delay planting.  Winter wheat production is estimated at 590 million bushels below the 685 million estimate and would be the smallest crop since 1963.  Look for steady to 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.)

Price Builder BonusDaily Price PlusFutures at 8:00am
SX22 Oct22$15.50$15.05$14.86
CZ22 Oct22$8.00$7.80$7.54
MWZ22 Dec22$14.80$14.00$13.11
Old Crop PremiumNew Crop TargetTrigger Date
0.4016.00 MWZ2211/23/22
0.3017.00 SX2210/21/22
0.508.00 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

Thursday May 12, 2022                                               By: Eric Peterson

Corn traded higher overnight holding support from yesterday but the market is eagerly waiting for the USDA’s first new crop estimates of the year later this morning.  The market is expecting new crop ending stocks to be 1.352 billion bushels and production to be at 14.773 billion bushels with the yield at 179.6 bu/acre.  Look for higher trade leading up to the report.   

Soybeans saw double digit losses this morning as soybean oil is over 1% lower.  Trae estimate for U.S new crop ending stocks on today’s WASDE report is 317 million bushels and production is expected to be 4.613 billion bushels with a yield of 51.4 bu./acre.  Look for lower trade to start the morning but driven by the results of the WASDE report later this morning.

Spring wheat was slightly weaker overnight on profit taking after a couple of big up days.  North Dakota and Minnesota planting remains delayed.  All wheat production for today’s report is expected to be at 1.791 billion bushels.  Look for lower trade to start the morning with the report driving the market later in the day.                      

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$15.20$14.85$14.59
CZ22 Oct22$7.65$7.55$7.37
MWZ22 Dec22$12.90$12.50$12.43
Old Crop PremiumNew Crop TargetTrigger Date
0.55$13.00 MWZ2211/23/22
0.30$17.00 SX2210/21/22
0.50$8.00 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

Wednesday May 4, 2022                                               By: Eric Peterson

We have the following Minnesota Twins tickets available to our customers at a first come first serve basis.  Please call the office for details. 

  • Friday, May 6 vs. Athletics (8 Champions)
  • Wednesday, May 11 vs. Astros (10 Dugouts)
  • Friday, May 13 vs. Guardians (6 Dugouts, 2 groups of 3)
  • Saturday, May 14 vs. Guardians (8 Champions and 10 Dugouts)
  • Sunday, May 15 vs. Guardians (6 Dugouts, 2 groups of 3)
  • Tuesday, May 24 vs. Tigers (10 Dugouts)
  • Wednesday, May 25 vs. Tigers (10 Dugouts)
  • Thursday, May 26 vs. Royals (8 Champions)
  • Sunday, May 29 vs. Royals (8 Champions)

Corn traded higher overnight on strength in the wheat market, delays in U.S corn plantings, along with dryness in EU and Brazil’s corn areas.  July corn tested its 10 day moving average of $8.02 with an overnight high of $8.03. December could test $7.50.  Look for mostly higher trade today on crop concerns and strength in the wheat market.         

Soybeans closed a dime higher this morning just off the overnight high of $16.44.  The 50 day moving average for July soybeans is above at $16.51 and will act as resistance.  The July/Nov spread is now at $1.54 inverse.  Look for mostly higher trade today on borrowed strength in the energy and soyoil markets. 

Spring wheat traded higher overnight with the July contract closing 24 cents higher.  The market found strength once again on global supply worries, dryness in the U.S Southern Plains and cool/wet conditions in the U.S Northern Plains.  Look for continued strength 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 BonusDaily Price PlusFutures at 8:00am
SX22 Oct22$15.80$15.43$14.87
CZ22 Oct22$7.85$7.65$7.40
MWZ22 Dec22$12.10$11.85$11.69
Old Crop PremiumNew Crop TargetTrigger Date
0.5513.00 MWZ2211/23/22
0.3017.00 SX2210/21/22
0.508.00 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

Corn traded higher overnight on delays in U.S corn plantings.  Biggest delays were said to be Iowa, Illinois, and Minnesota which accounts for 41% of 2021 production.  March planting intentions report showed corn acreage at 89.4 million acres.  Yesterday’s corn planting report had corn at 14% complete compared to 7% last week and a five year average of 33%.  Look for mostly higher trade today as corn planting has gotten off to a slow start.       

Soybeans were two sided overnight with the July contract trading 16 cent range.  The market opened lower on follow though selling from yesterday and ideas of possible increase in acres this year.  Crop progress was reported at 8% yesterday compared to 3% last week and a five year average of 13%.  Look for slightly higher trade today rebounding from yesterday.                 

Spring wheat traded higher overnight with the July contract closing just off the session higher of $11.77.  The market found strength overnight as winter wheat conditions declined from 61% fair/excellent to 57%. Spring wheat planting progress was pegged at 19% complete compared to 46% last year and a five year average of 28%. Look for mostly higher trade today on planting 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 BonusDaily Price PlusFutures at 8:00am
SX22 Oct22$15.80$15.43$14.96
CZ22 Oct22$7.85$7.65$7.47
MWZ22 Dec22$12.10$11.85$11.61
Old Crop PremiumNew Crop TargetTrigger Date
0.5513.00 MWZ2211/23/22
0.3017.00 SX2210/21/22
0.508.00 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

Thursday April 21, 2022                                               By: Eric Peterson

Corn was weaker overnight with the July contract trading a seven cent range.  News this morning is light as the market continues to focus on our weather and the slow planting pace, along with the ever growing concerns in the Black Sea region.  Look for mostly higher trade today as there remains to be plenty of bullish stories in the market right now but trade direction will be based on money flow as well. 

Soybeans were mixed overnight with the July contract trading a thirteen cent range.  November soybeans are still thirty cents off the contract high of $15.55.  Demand for soybeans remains quite strong with old crop sales nearing wheat the USDA’s estimate is at for the entire crop year.  The overall complex remains well supported by a number of factors, helping to keep momentum higher in place.           

Spring wheat was mixed overnight closing the session nearly unchanged.  Export sales for 21/22 caem in at 26,300mt while estimates were from 0-350kmt.  Parts of eastern Montana and western North Dakota are once again under a winter storm watch wih a mixture of snow, rain, and high winds expected.  This raises concerns over the timeliness of the spring wheat crop getting planted.              

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$15.80$15.43$15.24
CZ22 Oct22$7.85$7.65$7.41
MWZ22 Dec22$12.25$11.95$11.52
Old Crop PremiumNew Crop TargetTrigger Date
0.7213.00 MWZ2211/23/22
0.2518.00 SX2210/21/22
0.508.00 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

Tuesday April 19, 2022                                               By: Eric Peterson

Corn traded higher overnight as the market made new contract highs once again but have since backed off the highs.  May and July contracts hold on to levels above $8.00 futures, the continuous chart for July futures shows $8.24 as the highest level we’ve ever traded to and that was August 2012.  Look for the upward trend to continue although we are due for a correction. 

Soybeans were mixed overnight as the market trades a lot of the same news.  May and July futures approach the highs of late March but remain a ways off contract highs that were hit in late February.  Yesterday’s crop progress report showed the first planting figures at only 1%, the average is 2%.  Today’s market will attempt to continue off yesterday’s strength.           

Spring wheat was two sided overnight as overall wheat is influenced by the talk of unprecedented commodity inflation and rising prices.  The USDA pegged winter wheat crop conditions at 30% good/excellent, the lowest rating for this time of year in nearly two decades.  Look for the trend to continue higher.            

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$15.80$15.30$15.15
CZ22 Oct22$7.85$7.65$7.47
MWZ22 Dec22$12.25$11.95$11.63
Old Crop PremiumNew Crop TargetTrigger Date
.7213.00 MWZ2211/23/22
.4517.00 SX2210/21/22
.607.40 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

Corn saw two sided traded overnight before turning mostly higher.  July 2022, December 22, and December 23 corn all once again saw new contract highs.  Weekly ethanol production slipped below the needed level for the second consecutive week last week, keeping grind rates in focus.  Trade is expected to remain strong on the news of added ethanol and delayed planting. 

Soybeans are higher this morning following the strength in the soymeal and soyoil markets.  For the week, soyoil has pushed to contract highs on the strength in crude and heating oil this week.  The soybean complex is expected to continue to be volatile as China remains the wild card for the market.         

Spring wheat saw follow through buying overnight as the market continues to find support on the distress in Ukraine.  Implications the war has caused on global trade remains to be uncertain.  Look for mostly higher trade today as the weather is a concern in the winter wheat belt and planting progress is stalled in the Northern Plains.          

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$15.80$15.30$15.09
CZ22 Oct22$7.75$7.55$7.37
MWZ22 Dec22$12.10$11.70$11.47
Old Crop PremiumNew Crop TargetTrigger Date
0.7213.00 MWZ2211/23/22
0.4517.00 SX2210/21/22
0.607.40 CZ2211/23/22

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

Tuesday April 12, 2022                                               By: Eric Peterson

Corn is higher this morning with December corn making new contract highs for the seventh time in the last nine trading days.  The USDA pegged corn planting at 2% complete, unchanged from last week and behind the five year average of 4%.  Trade is expected to remain strong on rumors that China may have booked another 79 million bushels.      

Soybeans were sharply higher overnight on a strong bean oil market.  November soybeans failed to reach $15.00 overnight on overall market uncertainty caused by Russia’s military action in Ukraine.  Look for the soybean market to remain volatile.       

Spring wheat saw follow through buying overnight as the market continues to find support on the distress in Ukraine.  Implications the war has caused on global trade remains to be uncertain.  The U.S winter wheat conditions improved 2 points to 32% good/excellent, the second lowest in the last 20 years.  Look for mostly higher trade today as conditions worsen in the U.S.        

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$15.80$15.20$14.97
CZ22 Oct22$7.75$7.45$7.26
MWZ22 Dec22$12.10$11.50$11.30
Old Crop PremiumNew Crop TargetTrigger Date
0.62$13.00 MWZ2211/25/22
0.45$17.00 SX2210/21/22
0.60$7.40 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

Thursday April 7, 2022                                               By: Eric Peterson

Corn saw light two sided trade overnight as the July contract traded a six cent range.  December corn finds support at $7.00 with a session low of $7.00.  UkAgroConsult estimated that about 60% of last year’s corn area will be planted, and also have a smaller yield.  Corn production for 22/23 is estimated at 19mmt, down from last year’s 41.87mmt. Look for a quiet trade to start the day with an undertone of weakness. 

Soybeans closed four cents higher this morning after two sided trade overnight.  Technical support for July soybeans is below at $15.73 with resistance at the 10 day moving average of $16.25.  The USDA announced yesterday a sale of 132tmt soybeans to China for 21/22.  Look for some strength to start the day but low volume trade. 

Spring wheat was nearly unchanged this morning after two sided light volume trade.  Wheat export sales were 379.3tmt vs. estimates of 100tmt to 750tmt.  UkAgroConsult estimated Ukraine’s 22/23 wheat production at 19.8mmt down from last year’s 32mmt.  Look for slightly weaker trade today.   

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 April 6, 2022                                               By: Eric Peterson

Corn saw two sided trade overnight but nearby contracts turned lower though some of the deferred contracts remained near unchanged.  New crop 2022,2023,2024 December contracts all made new highs again in yesterday’s trade.  Old crop July corn also made a new contract high yesterday, but prices are retreating this morning in light volume.    

Soybeans are drifting lower this morning after trading two sided overnight.  The July contract saw a 21 cent range overnight.  Soybeans continue to gain back what was lost following last weeks Prospective Plantings report with the soybean meal trading higher as well.  Soybeans are attempting to form a reversal lower on the charts, but volume will remain light until the day session resumes.

Spring wheat traded lower overnight as money seems to be exiting the market.  Russia’s wheat exports to Egypt in March were 24% higher than last year while Egypt’s Ukraine imports declined 42%.  Look for lower prices to start the day but still within yesterday’s ranges.     

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$15.60$14.80$14.52
CZ22 Oct22$7.30$7.10$7.04
MWZ22 Dec22$12.00$11.20$10.76
Old Crop PremiumNew Crop TargetTrigger Date
0.2513.00 MWZ2211/25/22
0.3317.00 SX2210/21/22
0.607.40 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.

© 2022 CHS Inc.