CHS Drayton Morning Market Wire (12/12)

-Wednesday, December 12th we will NOT be dumping grain after 12:00pm. We will be shut down for maintenance.

CHS Drayton Annual Meeting will be held December 12th at 12:30pm at Hastings Landing, beginning with lunch and meeting to follow.  Please RSVP by calling the office.   

Market Summary

Corn closed a fraction lower this morning with the March contract trading a narrow two cent range. Corn open interest was up 12k yesterday with new buyers entering the market on hopes that a China trade resolution is in the near future. The USDA made subtle changes to the corn balance sheet yesterday. Production and yield stayed constant at 14.626 billion bushels and 178.9bpa. U.S. carryout rose to 1.781 billion bushels, up 45 million from last month.

Soybeans traded higher overnight with the January contract testing the recent high of $9.23. Strength came overnight on hopes that U.S soybeans will find their way back to China. U.S soybean production and yield remained unchanged at 4.6 billion bushels and 52.1bpa. The U.S carryout also was unchanged at 955 million bushels. Look for higher trade after President Trump said China is back in the market to buy soybeans. Trade will be watching for a sales announcement.

Spring wheat closed two cents higher this morning as the market attempts to gain back what It lost yesterday. On yesterday’s USDA report U.S wheat exports fell 25 million bushels to 1.0 billion bushels. This increased the U.S carryout to 974 million bushels. Look for slightly 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 Bonus Daily Price Plus Futures at 8:00am
SX19 (Nov) $10.15 $9.82 $9.64
CZ19 (Dec) $4.28 $4.13 $4.04
MWZ19 (Dec) $6.20 $6.14 $6.07

 

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 is 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 Premium New Crop Target Trigger Date
0.15 6.40 MWZ19 11/20/2019
0.33 10.00 SX19 10/23/2019
0.17 4.10 CZ19 11/20/2019

 

 

Futures markets as of 8:30 AM
Minneapolis Wheat: MWEH19 5.77 +0.02
Kansas City HRW: KWEH19 5.08 +0.03
Soybeans: SF19 9.20 +0.05
Corn: CH19 3.85 +0.01

 

CHS Drayton Cash Prices
Spring Wheat: 5.32 -0.45 basis Dec Delivered Drayton
Winter Wheat: 4.28 -0.80 basis Dec Delivered Drayton
Corn: 3.29 -0.56 basis Dec Delivered Drayton
Soybeans: 7.85 -1.35 basis Dec Delivered Drayton

 

Spring Wheat Protein Scales

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

-.02 cents ea. 1/5 down from 13.0% to 12.0% (Max -0.20)

+.02 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.

CHS Drayton Morning Market Wire (12/10)

We will NOT be taking wheat or corn on MONDAY December 10th.

-Wednesday, December 12th we will not be dumping grain after 12:00pm. We will be shut down for maintenance.

CHS Drayton Annual Meeting will be held December 12th at 12:30pm at Hastings Landing, beginning with lunch and meeting to follow.  Please RSVP by calling the office.   

Market Summary

Corn trade was weaker overnight with the March contract trading a narrow two cent range. The USDA December Supply and Demand report will be released tomorrow at 11:00am. The average carryout estimate is 1.738 billion bushels, about equal to last month. Prices have traded sideways since gapping higher on December 3rd. Traders will be watching that gap as markets trades higher.

Soybeans traded lower overnight with the January contract closing two cents off the session low. Technical resistance is at last week’s high of $9.23 with support at last Monday’s gap from $8.96 to $8.97. Markets want to see something happen with China. Rumors continue to circulate that China will soon buy 5-8mmt of U.S soybeans for their state reserves. Look for mostly lower trade as the market awaits concrete news in the trade war with China.

Spring wheat traded lower overnight with the March contract at the overnight low of $5.77. Wheat exports in Friday’s report were the 2nd largest for the marketing year, with Egypt and Mexico almost tied for largest buyer. The January 12th USDA planting report is expected to show winter wheat acres the smallest in many years, but the crop should be off to a good start with ample moisture. Look for slightly lower trade on a lack of bullish news.

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 Bonus Daily Price Plus Futures at 8:00am
SX19 (Nov) $10.09 $9.82 $9.58
CZ19 (Dec) $4.25 $4.13 $4.02
MWZ19 (Dec) $6.19 $6.14 $6.08

 

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 is 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 Premium New Crop Target Trigger Date
0.15 6.40 MWZ19 11/20/2019
0.30 10.00 SX19 10/23/2019
0.15 4.10 CZ19 11/20/2019

 

 

Futures markets as of 8:30 AM
Minneapolis Wheat: MWEH19 5.77 -0.04
Kansas City HRW: KWEH19 5.08 -0.03
Soybeans: SF19 9.12 -0.04
Corn: CH19 3.84 -0.01

 

CHS Drayton Cash Prices
Spring Wheat: 5.32 -0.45 basis Dec Delivered Drayton
Winter Wheat: 4.28 -0.80 basis Dec Delivered Drayton
Corn: 3.28 -0.56 basis Dec Delivered Drayton
Soybeans: 7.77 -1.35 basis Dec Delivered Drayton

 

Spring Wheat Protein Scales

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

-.02 cents ea. 1/5 down from 13.0% to 12.0% (Max -0.20)

+.02 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.

CHS Drayton Morning Market Wire (12/6)

We will NOT be taking wheat or corn on Friday December 7th.

CHS Drayton Annual Meeting will be held December 12th at 12:30pm at Hastings Landing, beginning with lunch and meeting to follow.  Please RSVP by calling the office.   

Corn traded lower overnight with the March contract closing at the overnight low of $3.82. The market traded lower on growing confusion over the U.S/China trade truce. The EU expects to import 18.5mmt of corn in the 2018/19 season, that’s up 13% from last year. Look for slightly lower trade today on follow through buying.

Soybeans were under pressure overnight with the January contract closing near overnight lows at $9.04. There is still no concrete news on the trade war, as U.S soybean exports remain nearly non-existent to China, the world’s largest soybean buyer. Brazil’s soybean exports to China in November were up 167%. Look for weaker trade today as the trade truce details remain unclear.

Spring wheat trade was weaker overnight on a lack of fresh bullish news. March Minneapolis gapped further from the fifty day moving average of $5.86. The recent low is below at $5.67, less than a dime away. December 2019 is the first contract that remains above $6.00. Look for mostly lower 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 Bonus Daily Price Plus Futures at 8:00am
SX19 (Nov) $10.05 $9.78 $9.49
CZ19 (Dec) $4.24 $4.11 $4.01
MWZ19 (Dec) $6.22 $6.17 $6.01

 

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 is 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 Premium New Crop Target Trigger Date
0.15 6.40 MWZ19 11/20/2019
0.24 10.20 SX19 10/23/2019
0.20 4.00 CZ19 11/20/2019

 

 

Futures markets as of 8:30 AM
Minneapolis Wheat: MWEH19 5.76 -0.02
Kansas City HRW: KWEH19 5.00 -0.05
Soybeans: SF19 9.04 -0.09
Corn: CH19 3.82 -0.01

 

CHS Drayton Cash Prices
Spring Wheat: 5.36 -0.40 basis Dec Delivered Drayton
Winter Wheat: 4.20 -0.80 basis Dec Delivered Drayton
Corn: 3.26 -0.56 basis Dec Delivered Drayton
Soybeans: 7.69 -1.35 basis Dec Delivered Drayton

 

Spring Wheat Protein Scales

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

-.02 cents ea. 1/5 down from 13.0% to 12.0% (Max -0.20)

+.02 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.

 

CHS Drayton Morning Market Wire (12/5)

CHS Drayton Annual Meeting will be held December 12th at 12:30pm at Hastings Landing, beginning with lunch and meeting to follow. Please RSVP by calling the office.

Corn traded slightly weaker overnight without any visible progress with the U.S/China trade war. Technically, there is gap in March corn below from $3.78 to $3.80 and the fifty day moving average is at $3.79. Dec 2019 corn is currently above $4.00. Look for slightly lower trade as yesterday’s rumors of China buying large tonnage of corn have not been verified.

Soybeans closed higher this morning after trading lower the majority of the overnight session. U.S/China trade relation remain front and center without any real solid progress made. China has stated what they agreed to at the G20 Summit. They said they will “expand imports according to the needs of its domestic market and people.” Look for slightly lower trade as we get some clarity on what China actually agreed to.

Spring wheat traded lower overnight as the market continues to struggle with large supplies and mediocre demand. March Minneapolis wheat filled the gap from Sunday night and the low end of the trading range sits below at $5.68, less than a dime away. Look for slightly lower trade as world demand remains light and Russia/Black Sea region remains to receive the majority of the business.

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 Bonus Daily Price Plus Futures at 8:00am
SX19 (Nov) $10.10 $9.84 $9.56
CZ19 (Dec) $4.26 $4.11 $4.01
MWZ19 (Dec) $6.25 $6.21 $6.07

 

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 is 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 Premium New Crop Target Trigger Date
0.18 6.40 MWZ19 11/20/2019
0.24 10.20 SX19 10/23/2019
0.16 4.10 CZ19 11/20/2019

 

 

Futures markets as of 8:30 AM
Minneapolis Wheat: MWEH19 5.77 -0.02
Kansas City HRW: KWEH19 5.00 -0.05
Soybeans: SF19 9.14 +0.02
Corn: CH19 3.83 -0.01

 

CHS Drayton Cash Prices
Spring Wheat: 5.37 -0.40 basis Dec Delivered Drayton
Winter Wheat: 4.20 -0.80 basis Dec Delivered Drayton
Corn: 3.27 -0.56 basis Dec Delivered Drayton
Soybeans: 7.79 -1.35 basis Dec Delivered Drayton

 

Spring Wheat Protein Scales

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

-.02 cents ea. 1/5 down from 13.0% to 12.0% (Max -0.20)

+.02 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.

CHS Drayton Morning Market Wire (12/4)

Corn closed a fraction lower this morning and traded lower the entire overnight session. The market is weaker in response to the uncertainty of the trade truce. Expert crop scout, Dr. Cordonieer has left his Brazil production estimate unchanged at 96mmt, with a neutral to higher bias. Overall demand for U.S corn remains strong both domestic and global. Look for slightly lower trade today on profit taking.    (more…)

CHS Drayton Morning Market Wire (12/3)

Corn traded higher overnight with the March contract closing four cents higher, four cents off the overnight high of $3.85. Last night’s high is a new three week high. Support came overnight after U.S and China agreed to a 90 day truce in their current trade war. Look for mostly higher trade today on strength in soybeans and friendly trade news.

Soybeans traded higher overnight but closed well off the overnight highs as the market got excited about the progress on China/U.S trade. The January contract gapped higher over $9.00 for the first time since August. November 2019 futures presents a selling opportunity at $9.50. The U.S agreed not to implement an additional 15% tariffs on an additional $267 billion, while China agreed to “buy agricultural products from the U.S.” However, China has not stated if they will reduce tariffs on U.S grains.

Spring wheat traded higher overnight on strength in the corn and soybean markets. March Minneapolis wheat closed four cents higher, two cents off the session high. Russian wheat exports climbed 20.4mmt so far this year, that’s up 19% year on year according to Russia’s Ag ministry. They are maintaining they’ll reach 34mmt this year. Look for mostly higher trade on the Trump bump.

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 Bonus Daily Price Plus Futures at 8:00am
SX19 (Nov) $10.08 $9.82 $9.53
CZ19 (Dec) $4.26 $4.15 $4.02
MWZ19 (Dec) $6.39 $6.31 $6.11

 

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 is 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 Premium New Crop Target Trigger Date
0.18 6.50 MWZ19 11/20/2019
0.26 10.20 SX19 10/23/2019
0.15 4.10 CZ19 11/20/2019

 

 

Futures markets as of 8:30 AM
Minneapolis Wheat: MWEH19 5.80 +0.04
Kansas City HRW: KWEH19 5.04 +0.04
Soybeans: SF19 9.11 +0.16
Corn: CH19 3.81 +0.04

 

CHS Drayton Cash Prices
Spring Wheat: 5.40 -0.40 basis Dec Delivered Drayton
Winter Wheat: 4.24 -0.80 basis Dec Delivered Drayton
Corn: 3.25 -0.56 basis Dec Delivered Drayton
Soybeans: 7.76 -1.35 basis Dec Delivered Drayton

 

Spring Wheat Protein Scales

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

-.02 cents ea. 1/5 down from 13.0% to 12.0% (Max -0.20)

+.02 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.

 

CHS Drayton Morning Market Wire (11/30)

Corn traded higher overnight with the March contract trading a narrow two cent range. December corn remained above $3.60, but still trails the 50 day moving average of $3.66. The market remains flat ahead of the G-20 Summit. The G-20 Summit begins today with President Trump expected to meet with the Chinese tomorrow. Look for mostly quiet trade today as the market positions itself in front of the weekend. (more…)

CHS Drayton Morning Market Wire (11/28)

Corn closed two cents higher overnight with the March contract closing at the overnight high of $3.58.  Short term resistance for March corn is at $3.73 with support at $3.65. The last crop progress report showed corn at 94% harvested, lagging behind the five year average of 96%. Look for mixed to slightly higher trade as news remains light and uneventful.         (more…)

CHS Drayton Morning Market Wire (11/27)

Corn was able to stay above yesterday’s low of $3.55 during the overnight session but is well below any major technical moving averages. Overall news remains light and routine and President Trump indicates he is ready to move forward on increased tariffs on Chinese goods. A trade deal resolution brings hope that China will resume buying U.S DDGs, and sorghum and possibly ethanol.             (more…)

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