Morning Market Wire

Tuesday Aug 9, 2022                                               By: Eric Peterson

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

Aug ticket availability:

  • Tuesday, August 16 – 8 Dugout (groups of 5 and 3)
  • Monday, August 22 – 8 Champion
  • 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 gapped higher overnight on support from a lower than expected ratings and concerns about U.S corn yield.  The USDA dropped crop conditions to 58% good/excellent this compares to 61% last week.  The original 177bpa prediction is at risk.  The DTN digital yield tour suggests a projected yield of 167.2bpa, if this is realized prices are likely too low.  Look for mostly higher trade today on a lower condition report.    

Soybeans traded higher overnight as concerns about the U.S yield grow as crop conditions decline.  The crucial August weather as been far from ideal.  USDA crop ratings were at 59% good/excellent down 1% from last week.  The USDA announced yesterday morning a soybean sale of 132tmt to China for 2022/23.  Look for mostly higher trade as a drop in condition is likely to bring in speculative buyers.       

Spring wheat closed 17 cents higher this morning after a lower than expected conditions report yesterday afternoon. The spring wheat crop rating dropped 6 points to 64% good/excellent.  Harvest is 9% complete compared to the 19% average for this date.  Harvest in North Dakota has generally not started yet.  Look for mostly higher trade on optimism that global demand may be picking up and reduced crop conditions.           

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$14.72$14.50$14.30
CZ22 Oct22$6.45$6.35$6.22
MWZ22 Dec22$9.35$9.20$9.10
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

Tuesday July 26, 2022                                               By: Eric Peterson

Please join us TODAY July 26th 2:00pm-5:00pm with for the Open House of our new Elevator! We will be giving tours and supper will be served. 

Corn is higher this morning after a reduction to the crop rating on yesterday’s report.  Yesterday the USDA had corn at 61% good/excellent a 3% drop from last week.  U.S weather remains front and center as many experts are concerned about the overall corn yield.  Look for mostly higher trade today with condition lower than expected and news of the Russians shooting missiles along Ukraine’s coast last night.          

Soybeans traded higher overnight with support form soymeal and soyoil.  Conditions yesterday showed the good/excellent category at 59% vs 61% last week and 60% expected for this week.  Look for higher trade today as the market gather support form a stronger global edible oil market and from a very firm soymeal market.                    

Spring wheat traded higher overnight on more distress in Ukraine.  Russia has fired more missiles overnight in the Odesa region of Ukraine and the Mykolaiv region.  The market continues to have concern on how much wheat will be exported out of the Black Sea region.  Spring wheat conditions dropped to 68% good/excellent vs 71% last week and 9% last year.  The spring wheat tour begins today in Fargo N.D.       

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$14.20$13.90$13.73
CZ22 Oct22$6.35$6.15$6.00
MWZ22 Dec22$9.35$9.20$9.13
Old Crop PremiumNew Crop TargetTrigger Date
0.2710.20 MWZ2211/23/22
0.3014.40 SX22 10/21/22
0.286.00 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

Monday July 25, 2022                                               By: Eric Peterson

Corn closed thirteen cents higher this morning with the September contract gapping five cents higher off the open.  Support came form a strong wheat market and uncertainty regarding Black Sea exports.  Rains are expected to be mostly on the southern half of the Corn belt while most of Iowa and north is expected to be dry.  Look for mostly higher trade today following strength in the wheat market.        

Soybeans traded higher overnight following the strength in corn and soybeans.  November soybeans currently sit $1.30 off the high for July, last Friday’s low was $12.88 so about $1.80 trading range in July so far.  Extended forecasts look spotty with low rain amounts for much of the corn belt.  Look for mostly higher trade getting support from other commodities.                  

Spring wheat gapped higher off the open and remained higher the entire evening.  Support came on news that a Russian missile strikes on Odesa in Ukraine, a major export city on the Black Sea.  The strike has cast doubt on the grain deal that was reached last week.  Look for mostly higher trade today on uncertainty in Russia and Ukraine.     

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$13.70$13.50$13.34
CZ22 Oct2$6.15$5.95$5.78
MWZ22 Dec22$9.55$9.35$9.06
Old Crop PremiumNew Crop TargetTrigger Date
0.2710.20 MWZ2211/23/22
0.30$14.00 SX2210/21/22
0.28$6.00 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 July 19, 2022                                               By: Eric Peterson

Drayton and all locations will be open from 7:00am to 6:00pm Monday-Thursday and closed on Fridays July 11th -July 29th.  To allow our staff time off before harvest. The office will remain open.

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

Aug ticket availability:

  • Monday, August 10 – 10 Dugout (groups of 7 and 3)
  • Friday, August 5 – 10 Dugout (groups of 7 and 3)
  • Tuesday, August 16 – 8 Dugout (groups of 5 and 3)
  • Monday, August 22 – 8 Champion
  • 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 lower overnight with the September contract closing down twenty cents this morning.  The USDA put the U.S corn crop at 64% good/excellent, unchanged from last week and compared to 65% last year.  Forecasts are trending wetter since yesterday morning, with 4-5 inches of rain possible over the 10 day period for parts of IL, MI, and MN/IA border.  Look for lower trade today as the market remains focused on weather.    

Soybeans were under pressure overnight with the November contract trading a thirty cent range.  Soybean condition rating was down 1% to 61% good/excellent compared to an estimate of 62%.  Rumors are that China bought as much as 800k MT of soybeans since yesterday for Oct/Nov and Feb/March.  Look for slightly lower trade today as the market searches for confirmation on more Chinese business.              

Spring wheat traded lower overnight as futures seem to be consolidating at the lower end of the trading range.  The USDA pegged winter wheat harvest at 70% complete.  Spring wheat conditions are 71% good/excellent up 1% from last week.

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

Drayton and all locations will be open from 7:00am to 6:00pm Monday-Thursday and closed on Fridays July 11th -July 29th.  To allow our staff time off before harvest. The office will remain open.

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

Aug ticket availability:

  • Monday, August 10 – 10 Dugout (groups of 7 and 3)
  • Friday, August 5 – 10 Dugout (groups of 7 and 3)
  • Tuesday, August 16 – 8 Dugout (groups of 5 and 3)
  • Monday, August 22 – 8 Champion
  • 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 traded higher overnight with the September contract trading a fifteen cent range.  Forecasts show temperatures in the Western Corn Belt topping 100 degrees next weekend, with South Dakota/Nebraska border seeing 110-113 degrees.  Look for stronger trade today as hot and dry weather continues. 

Soybeans saw double digit gains overnight with the November contract gapping higher off the open.  Brazil has early estimates of a massive crop once again this upcoming year as they expand acres and yields continue to increase.  Look for mostly higher trade today as forecasts look to be hot and dry for much of the Midwest.            

Spring wheat traded higher overnight with the September contract trading a wide 28 cent range.  The U.S dollar trades to its highest level in 19 years and may keep major rebounds capped in the wheat market.  Look for mostly higher trade today on weather 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$14.10$13.95$13.75
CZ22 Oct22$6.55$6.40$6.14
MWZ22 Dec22$10.05$9.85$9.36
Old Crop PremiumNew Crop TargetTrigger Date
0.2810.60 MWZ2211/23/22
0.2315.00 SX2210/21/22
0.207.00 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 July 14, 2022                                               By: Eric Peterson

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

Aug ticket availability:

  • Monday, August 10 – 10 Dugout (groups of 7 and 3)
  • Friday, August 5 – 10 Dugout (groups of 7 and 3)
  • Tuesday, August 16 – 8 Dugout (groups of 5 and 3)
  • Monday, August 22 – 8 Champion
  • 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 traded higher overnight with the September contract trading a fifteen cent range.  December corn hit a low of $5.76 yesterday with more support down at $5.66.  Support came overnight on buying interest from updated forecasts showing dry weather over the next seven days.  Look for the choppy trade to continue as we keep trading weather. 

Soybeans saw near double digit losses and a thirty cent range overnight.  November soybeans traded below the 200 day moving average and will look for support closer to $13.00.  Soybean oil falls as crude and palm oil trade lower, and meal and board crush values are stronger.  Look for slightly lower trade today.          

Spring wheat was two sided overnight with the September contract trading 25 cent range.  The Rosario Grain Exchange in Argentina lowered their wheat crop estimate 800k mt to 17.7mmt due to a reduction in planted area due to drought.  Look for the choppy rangebound trade to continue to end the week.     

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$13.80$13.5$13.40
CZ22 Oct22$6.50$6.30$6.00
MWZ22 Dec22$10.05$9.85$9.40
Old Crop PremiumNew Crop TargetTrigger Date
0.2810.60 MWZ2211/23/22
0.2315.00 SX2210/21/22
0.207.00 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 July 13, 2022                                               By: Eric Peterson

Corn saw two sided trade overnight with a slightly higher bounce this morning.  Old crop carryout increased by 25 million bushels and new crop increased by 70 million bushels, causing a fund selloff yesterday.  Weather forecasts remain hot and dry for the next couple of weeks as corn starts to pollinate.  Look for mixed trade as weather remains supportive but fund liquidation has outweighed that.    

Soybeans were mixed overnight with the market trading a wide 35 cent range overnight.  Old crop saw carryout was bumped up 10 million bushels as crush demand was cut by 10 million bushels. The cut to new crop exports was a surprise as new crop exports have been the 2nd strongest on record for this point of the year.      

Spring wheat bounced higher overnight after a couple of days of selling off.  Technical support for the September contract is below at $8.70.  The U.S supply continues to grow with winter wheat harvest going strong.  Overall winter wheat protein seems to be higher than normal.  Look for slightly higher trade today as we trade levels not seen since February.    

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$13.80$13.55$13.27
CZ22 Oct22$6.50$6.30$5.85
MWZ22 Dec22$10.05$9.85$9.30
Old Crop PremiumNew Crop TargetTrigger Date
0.2810.60 MWZ2211/23/22
0.2315.00 SX2210/21/22
0.207.00 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 as it sees a hot forecast ahead.  Futures gapped higher in the open last night as forecasts once again turn hot and dry for the majority of the Midwest.  The market seem nervous about heat/dryness heading toward pollination.  Look for mostly higher trade today on weather concerns. 

Soybeans started the week higher as the market is seeing large gaps from Friday’s close to last night’s open.  Tuesday’s WASDE report is expected to support the soybean balance sheet as production and carryout look smaller than in June give the cut in acres.  Look for mostly higher trade today.    

Spring wheat saw double digit gains overnight on what appears to be a technical correction.  Wheat gained strength overnight on rumors of Chinese interest in export business off the PNW.  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$14.45$14.25$14.05
CZ22 Oct22$6.95$6.75$6.35
MWZ22 Dec22$10.45$10.25$10.05
Old Crop PremiumNew Crop TargetTrigger Date
0.3710.20 MWZ2211/23/22
0.2715.00 SX2210/21/22
0.306.60 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

Thursday July 8, 2022                                               By: Eric Peterson

Drayton will be closed for receiving grain July 11th-July 15th as we transition our system to the new elevator.  The office and locations will remain open. 

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

July ticket availability:

  • Tuesday, July 12 vs. Brewers (2 Dugout)
  • Wednesday, July 13 vs. Brewers (4 Champions)
  • Thursday, July 14 vs. White Sox (10 Dugout)

Corn is trading higher this morning with the September contract closing just off the overnight high of $6.20.  A strong close into the weekend would be a positive technical factor as trade is uneasy about the forecast as the crop moves towards the critical pollination stage.      

Soybeans are higher this morning on follow through buying with November at the midpoint of the 29 cent overnight range.  Weekly export sales showed a reduction of 160,000mt, marketing year low.  Look for mostly sideways trade as world supplies are tight and biofuels are in demand. 

Spring wheat saw double digit gains overnight on what appears to be a technical correction.  Wheat gained strength overnight on rumors of Chinese interest in export business off the PNW.  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$14.15$13.95$13.71
CZ2 Oct22$6.95$6.75$6.04
MWZ22 Dec22$10.15$9.75$9.74
Old Crop PremiumNew Crop TargetTrigger Date
0.3710.20 MWZ2211/23/22
0.2715.00 SX2210/21/22
0.306.60 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

Thursday July 7, 2022                                               By: Eric Peterson

Drayton will be closed for receiving grain July 11th-July 15th as we transition our system to the new elevator.  The office and locations will remain open. 

Corn traded higher overnight on a technical bounce.  December corn is making the move back to $6.00 with a gap from $6.02 to $6.04.  Overall, U.S weather remains favorable though some parts of the Eastern Corn Belt are dry.  Look for mostly volatile trade today as weather remains the main driver.    

Soybeans were sharply higher overnight bouncing from yesterday’s losses.  November soybeans have dropped from a high of $15.07 on 6/30 to yesterday’s low of $13.02.  There is a gap left at $13.74.  Soybean trade is expected to remain sideways as world supplies are tight and biofuels are in demand. 

Spring wheat saw double digit gains overnight on what appears to be a technical correction.  Over the last few months wheat prices have took the escalator up and the elevator down, losing $4.00 in the past 50 days.  Russia production appears strong but the big question remains to be demand.  Look for the market to remain volatile as the supply is tight and 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.)

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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