Morning Market Wire

Wednesday Sept 23, 2020                                               By: Eric Peterson

Our current DP program on Soybeans is -.05 cents/bu. per month 4 month minimum.  Bushels must be signed up before hauling. 

Corn saw two sided trade activity but faded lower heading into the close.  U.S harvest has begun lightly on corn in the Midwest as many take soybeans first where they can.  Technically, the December contract seems to be rangebound from the 200 day moving average below of $3.60 to the recent high of $3.79.  Look for slightly lower trade today on harvest pressure.      

Soybeans closed five cents lower this morning with the November contract trading a fourteen cent range overnight.  Soybeans have now lost 26 cents since Friday’s close.  The market continues to have wide trading ranges this week as it deals with uncertainty of how much China will buy and how will logistics perform.  Look for mostly mixed trade today as harvest pressure will likely limit gains.    

Spring wheat was weaker overnight as the back and forth trade continues.  The market seems rangebound as news remains mostly routine.  Forecasts continue to look dry for the Southern Plains over the next two weeks as that area is really hoping for good rain to come soon.  Look for slightly lower trade today on a correction form yesterday’s strong 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 Bonus Daily Price PlusFutures at 8:00am
SH21 Jan21$10.65$10.50$10.14
CH21 Jan21$3.94$3.85$3.76
MWN21 June21$5.89$5.80$5.67

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 are 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 PremiumNew Crop TargetTrigger Date
0.156.00 MWZ2111/20/21
0.2210.20 SX2110/20/21
0.164.00 CZ2111/20/21

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 Sept 22, 2020                                               By: Eric Peterson

Corn is slightly lower this morning after the sharp loss yesterday.  The crop progress report yesterday showed the percent harvested at 8%, lower than expected.  However harvest progress should catch up some this week.  Even with yesterday’s 8 cent drop, the December contract is still at levels not since March as our harvest starting to ramp up.  Look for mixed trade today as the market settles after yesterday’s losses.    

Soybeans traded two sided overnight with the November contract closing four cents higher.  The market was sharply lower yesterday on fund selling after a long stretch of higher values and increased hedge pressure with the start of soybean harvest.  Weather conditions have been mostly favorable last week and this week.  Soybean harvest is in full swing in the Northern Plains.  Look for mixed trade today after yesterday’s drop.    

Spring wheat closed four cents higher this morning, bouncing after yesterday’s sell off.  Wheat gave back gains yesterday made from last week.  The crop progress report yesterday showed winter wheat planting at 20% complete vs. the 19% average.  Spring wheat planting is nearly complete at 95%.  Look for higher trade today, correcting from yesterday’s sharp sell off.           

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
SH21 Jan21$10.85$10.65$10.25
CH21 Jan21$3.94$3.85$3.79
MWN21 June21$5.89$5.80$5.62

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 are 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 PremiumNew Crop TargetTrigger Date
0.156.00 MWZ2111/20/21
0.2210.20 SX2110/20/21
0.164.00 CZ2111/20/21

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 Sept 17, 2020                                               By: Eric Peterson

Corn traded two sided overnight as the December contact sees a new high for the current move at $3.73.  Technically, the December contract sits well above the 200, 100, and 50 day moving averages.  Continues talk of China buying or needing to buy a substantial amount from the U.S is the underlying supportive factor. Look for slightly higher trade as the $3.70 mark is level of resistance.      

Soybeans traded higher the majority of the night but were under pressure this morning to close four cents lower.  November soybeans hit a new contract high overnight and technically are over a dollar higher than any major moving averages.  The USDA yield of 51.9 bpa is under question but next months report should verify how this crop yields.  Look for mixed trade today as November soybeans went from up 7 to down 4 overnight, pulling back after hitting the highest price since June 2018. 

Spring wheat was mixed overnight with the December contract closing nearly unchanged this morning.  Spring wheat harvest is all but complete at 92% completed.  Look for slightly lower trade as U.S spring wheat has been left out of the China buying spree, but world wheat export values are strong in general.          

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
SH21 Jan21$10.30$10.10$10.10
CH21 Jan21$3.94$3.85$3.78
MWN21 June21$5.84$5.80$5.63

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 are 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 PremiumNew Crop TargetTrigger Date
0.166.00 MWZ2111/20/21
0.2210.20 SX2110/20/21
0.164.00 CZ2111/20/21

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 Sept 15, 2020                                               By: Eric Peterson

Corn traded lower overnight with the December contract closing two cents lower.  Crop progress showed corn ratings down 1% to 60% good/excellent.  Traders were expecting unchanged conditions.  The crop is 5% harvested, in line with the average.  Look for slightly lower trade today as the market is likely to see resistance as harvest advances.    

Soybeans traded higher overnight with the November contract closing three cents off the overnight high.  Soybean ratings were down 2% to 63% good/excellent, while traders were expecting unchanged.  Soybeans are technically overbought so the market will likely need to see daily bullish news to keep the rally going.        

Spring wheat was mixed overnight with the December contract closing nearly unchanged this morning.  Spring wheat harvest is all but complete at 92% completed.  Look for slightly lower trade as U.S spring wheat has been left out of the China buying spree, but world wheat export values are strong in general.          

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
SH21 Jan21$10.30$10.10$10.06
CH21 Jan21$3.92$3.85$3.77
MWN21 June21$5.84$5.80$5.63

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 are 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 PremiumNew Crop TargetTrigger Date
0.166.00 MWZ2111/20/21
0.2210.20 SX2110/20/21
0.164.00 CZ2111/20/21

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 Sept 11, 2020                                               By: Eric Peterson

Corn saw two sided trade overnight with the December contract trading a four cent range overnight.  Today the USDA will release the crop production and S&D report.  The average trade estimate for U.S corn crop is 178.3 compared to 181.8 in August.  Prices continue to draw support from ideas that China may be in the market for as much as 30.0mmt of corn. 

Soybeans were two sided overnight but are near the upend end of the trading range this morning.  November soybeans traded above their January high of $9.82.  Soybeans continue to draw strength from good demand.  Weekly export sales for 20/21 were reported at 3,161,800 tonnes versus trade estimates that ranged from 1,100,000 to 1,900,000 tonnes.  Look for stronger trade heading into today’s report.    

Spring wheat was mixed overnight with Minneapolis wheat closing a penny higher.  The found follow through support from yesterday and support from corn and soybeans.  The USDA may not make any major changes on the report as the October report will apply the Sep 30 small grains summary data to the balance sheet.  Look for slightly higher 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.)

Price Builder BonusDaily Price PlusFutures at 8:00am
SH21 Jan21$10.30$9.95$9.85
CH21 Jan21$3.95$3.85$3.77
MWN21 June21$5.91$5.80$5.65

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 are 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 PremiumNew Crop Target Trigger Date
0.206.00 MWZ2111/20/21
0.2210.20 SX2110/20/21
0.203.60 CH212/20/21

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 9, 2020                                               By: Eric Peterson

Corn was mostly quiet overnight as the December contract continues to chop around the $3.60 level.  With the crop progress out of the way and no surprises there, traders can now focus on getting positioned ahead of Friday’s report.  Corn conditions were down 1% in line with trade expectations.  Look for slightly lower trade today.  

Soybeans were mixed overnight but are near the upper end of the range this morning.  The September contracts high of $9.76 was the highest front month soybeans have seen since June 2018.  Soybean conditions declined 1% to 65% good/excellent in line with trade expectations.  The for the strength to continue into this morning. 

Spring wheat closed slightly higher this morning as Kansas City and Chicago markets are lower.  The U.S spring wheat crop was reported at 82% harvested versus the five year average of  87%.  The winter wheat crop was reported at 5% planted versus the 5 year average of 3%.  The market will focus on positioning ahead of Friday’s report where we could see an increase in production.    

Below is the 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 are 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 TargetTrigger Date
0.206.00 MWZ2111/20/21
0.2110.20 SX2110/20/21
0.203.60 CH212/20/21

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 2, 2020                                               By: Eric Peterson

Corn was slightly weaker overnight as the market continues to show signs of being overbought.  December corn continues to stay above $3.50 for now with the next level of technical resistance at $3.62 and support below at $3.39. The market is likely to have a reduced yield, production and carryout, but that may already be factored in.  Look for sideways to weaker trade as the market has seemed to step back from the recent rally.                        

Soybeans closed lower this morning for the first time in seven sessions.  August weather proved to be less than ideal for finishing out the soybean crop as major soybean producing states ran 50% of normal precipitation over the month. Look for mixed trade today as the market will look for another flash sale to China to help prop the market up again after a weaker overnight session.    

Spring wheat closed a fraction higher this morning with the December contract trading a four cent range overnight.  Yesterday’s rally is being attributed to fresh rumors of Chinese buying, and funds were buyers to provide technical support.  Look for slightly higher trade today as the market will look for confirmation of Chinese sales and continued fund buying. 

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
SH21 Jan21$10.02$9.85$9.57
CH21 Jan21$3.79$3.75$3.64
MWN21 June21$6.01$5.80$5.73

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 are 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 PremiumNew Crop TargetTrigger Date
0.245.50 MWH212/20/21
0.2010.20 SX2110/20/21
0.203.60 CH212/20/21

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 Sept 1, 2020                                               By: Eric Peterson

Corn was weaker overnight as the market may be overbought for the time being.  Technically, the December contract has a gap to fill from $3.48 to $3.45.  As expected, corn’s good/excellent rating dropped by 2% this week to 62%.  Iowa dropped by another 5% this week to 55% compared to 85% at the beginning of July.  Look for weaker trade today after the recent rally.                      

Soybeans opened last night sharply lower with the November contract trading eleven cents lower at one time.  The market rebounded and closed nearly unchanged this morning.  November contract tested the $9.50 level after reaching nearly an eight month high.  The good/excellent rating were down 3% this week to 66%, which was in line with expectations.  Iowa saw a 5% drop this week.  Look for weaker trade today as the market takes a break after closing higher five days in row. 

Spring wheat was mixed overnight with Minneapolis unchanged/slightly higher and Chicago weaker and Kansas City pushing higher.  U.S progress had spring wheat harvest at 69% complete, ahead of last year’s 50% but behind the five year average of 77%.  Look for mixed trade today as the recent rally seems to be fund driven. 

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 8am
SH21 Jan21$10.02$9.85$9.58
CH21 Jan21$3.88$3.75$3.63
MWN21 June21$5.92$5.80$5.64
Old Crop PremiumNew Crop Target Trigger Date
0.245.50 MWH212/20/21
0.2010.20 SX21 10/20/21
0.203.60 CH212/20/21

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 28, 2020                                               By: Eric Peterson

Corn closed a fraction lower this morning, however for the wee December corn has gained 18 cents.  The market is set to see a third consecutive week of gains due to the uptick in Chinese demand.  The International Grains Council raised its global corn production for 20/21 yesterday, up 2 million tonnes to a record 1.166 billion tonnes. The forecasted U.S corn crop is at 384.2 million tonnes below the USDA’s forecasted 388.1 million.  Look for steady to lower trade after the recent gains.          

      Soybeans closed a nickel higher this morning as the market is 4.5% for the week; the biggest one week percentage jump in almost a year.  Recent hot and dry weather across a majority of the corn belt has stressed soybean growth.  Next week forecasts are expecting heavy rainfall, which will aid in the late stages of soybean growth.  Look for higher trade today with support from recent Chinese purchases.                  

Spring wheat closed a fraction higher with the December contract closing three cents off overnight highs.  Nearby bids have now rolled to December futures.  Wheat is set to see gains for the fourth consecutive week.  For the week, Minneapolis December wheat is up 11 cents.  Look for mostly higher trade today on spillover strength from the corn and soybean markets. 

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
SH21 Jan21$10.02$9.85$9.52
CH21 Jan21$3.84$3.75$3.68
MWN21 June21$5.92$5.80$5.65

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 are 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 PremiumNew Crop TargetTrigger Date
0.245.50 MWH212/20/21
0.2010.00 SX2110/20/21
0.163.60 CH212/20/21

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 26, 2020                                               By: Eric Peterson

Corn is trading lower this morning on profit taking after the recent rally.  Yesterday, the market managed to hit a six week high.  Yesterday, the U.S saw the largest single day U.S corn purchase in almost a month, totalaing 408,000 tonnes.  China demand for 20/21 is strong so far but none of it has shipped yet which presents a risk.  Look for mixed trade today as the market waits for additional signs of demand.             

Soybeans traded higher overnight with the November contract sitting at a seven month high.  Strength continues due to high expectations that China will continue their buying spree of U.S soybeans.  According to a report from Bloomberg, China is expected to buy 40 million tonnes of U.S soybeans in 2020.  Forecasts for hot and dry weather is adding additional support to the market.  Look for mostly higher trade today.                

Spring wheat closed three cents lower this morning as the market continues its choppy trade.  Wheat has found support yesterday due to a recent uptick in export demand as several countries across the globe have recently issued tenders.  Look for slightly lower trade today as the market looks mostly flat 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
SH21 Jan21$9.80$9.55$9.32
CH21 Jan21$3.80$3.70$3.65
MWN21 June21$5.79$5.65$5.57

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 are 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 PremiumNew Crop Target Trigger Date
0.185.40 MWH212/20/21
0.1810.00 SX2110/20/21
0.19$3.40 CH212/20/21

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.

© 2020 CHS Inc.