Morning Market Wire

Wednesday July 14, 2021                                               By: Eric Peterson

Corn was two sided overnight with a downside bias headed into 7am.  Both the September and December contract traded below their 50 day moving averages.  The December contract is staying within a $5.10 to $5.45 range.  Look for mostly quiet trade today as overall U.S weather and crop conditions remain mostly favorable.          

Soybeans were also two sided overnight with many contracts seeing near a 20 cent range.  Soybeans continue to move higher on tight stocks and strong vegoil markets.  The critical weather for soybeans is still ahead as August weather seems to make or break the soybean crop.  The crop still has a chance for decent yield with the right weather.  Look for higher trade from strength in related vegoil markets.    

Spring wheat traded higher overnight on dryness in the Northern Plains and Canadian Prairies, along with disappointing yields in early harvest reports in Russia.  Some spring wheat areas are in really bad shape while others aren’t so bad with an ok crop expected.  Look for strength today on continued 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
SX21 Oct21$14.10$13.80$13.61
CZ21 Oct21$5.90$5.65$5.43
MWZ21 Dec21$8.90$8.75$8.51
Old Crop PremiumNew Crop TargetTrigger Date
0.569.00 MWZ2111/19/21
0.3115.00 SX2110/22/21
0.206.00 CZ2111/19/21

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 July 8, 2021                                               By: Eric Peterson

Corn opened five cents higher but turned lower overnight on favorable weather and weakness in outside markets.  U.S weather remains mostly favorable as cooler temps are helping as the U.S corn crop heads towards tasseling and pollinations.  Look for lower trade today on weakness in outside markets.      

Soybeans were weaker overnight on favorable weather for the U.S Midwest.  Prices drew additional pressure from spillover weakness from the energy markets.  Technical support is below at the 100 day moving average of $13.09.  Look for mostly lower trade today on weather and spillover weakness from the energy markets.    

Spring wheat closed a fraction lower with the September contract closing ten cents off the session high.  The market was higher on declining crop conditions, a weaker U.S dollar and poor crop conditions in both the U.S and Canadian Prairies.     

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
SX21 Oct 21$13.75$13.25$13.13
CZ21 Oct 21$5.90$5.65$5.25
MWZ21 Dec 21$8.40$8.25$7.96
Old Crop PremiumNew Crop TargetTrigger Date
0.499.00 MWZ2111/19/21
0.2214.60 SX2110/22/21
0.206.00 CZ2111/19/21

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 July 7, 2021                                               By: Eric Peterson

Corn opened weaker last night but traded two sided with the December contract trading a thirteen cent range.  Yesterday’s condition report had the crop unchanged at 64% good/excellent, this compares to 71% this time last year.  Look for choppy trade today on improving weather conditions and spillover strength from soybeans and crude oil.    

Soybeans rebounded slightly overnight after yesterday’s 94 cent sell off.  Since some soybean oil contracts closed down limit yesterday the whole soybean complex will have expanded limits today.  Soybeans limit will be $1.50 today.  Yesterday’s crop condition report had soybeans 1% lower at 59% good/excellent, this compares to 71% last year at this time.  Look for mostly higher trade today on declining crop conditions. 

Spring wheat was mixed overnight with the September contract trading an eleven cent range.  The USDA put U.S spring wheat conditions at 16% good/excellent, down from 20% last week and 70% last year.  Winter wheat harvest is at 45% complete.  Look for higher trade on declining spring wheat conditions and slower harvest progress than expected.   

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
SX21 Oct21$13.75$13.25$13.04
CZ21 Oct21$5.90$5.65$5.32
MWZ21 Dec21$8.40$8.25$7.94
Old Crop PremiumNew Crop TargetTrigger Date
0.499.00 MWZ2111/19/21
0.2214.60 SX2110/22/21
0.206.00 CZ2111/19/21

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 June 30, 2021                                               By: Eric Peterson

Corn traded lower overnight with the December contract closing just above the session low of $5.33.  The market is facing pressure ahead of today’s long anticipated acreage and quarterly stocks report.  Many analysts are predicting that acres will increase from the prior report in March.  Today’s report is expected to show around 93.8 million acres of corn planted this year, which compares to 91.14 reported in March.  Look for mostly weaker trade ahead of the report. 

Soybeans traded lower overnight in light volume as the market prepares for today’s report.  The average acreage estimate on today’s report is 88.995 million up form the 87.6 million reported in March.  Look for weaker trade heading into today’s report. 

Spring wheat was lower overnight as the market has appeared to have taken a correction after hitting fresh contract highs yesterday.  The 6-10 day forecast looks to be wetter for the Northern Plains, potentially providing them with much needed rain.  Look for weakness ahead of the report. 

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
SX21 Oct21$13.75$13.25$13.04
CZ21 Oct21$5.90$5.64$5.35
MWZ21 Dec21$8.40$8.25$7.93
Old Crop PremiumNew Crop TargetTrigger Date
0.499.00 MWZ2111/19/21
0.2214.60 SX2110/22/21
0.206.00 CZ2111/19/21

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 June 23, 2021                                               By: Eric Peterson

Corn two sided overnight with the December contract trading a nine cent range overnight.  The market is weighting recent rains and the upcoming forecasted rains against a crop that continued to decline in ratings.  Technically, the December contract sits between the 50 day moving average of $5.63 and its 100 day moving average of $5.16.  Look for mostly consolidated trade ahead of next weeks report.     

Soybeans traded lower overnight with the November contract closing at the low end of the range at $12.99.  In comparison to the major price swings we saw last week and to begin this week, soybeans have traded in a narrow range over the past two sessions.  Look for prices to remain rangebound as the market looks for direction in next week’s report.   

Spring wheat was higher overnight as Minneapolis wheat is once again the leader in the wheats as conditions continue to worsen.  Reports are surfacing that spring wheat yield potential could drop as low as 20 bpa if the growing region doesn’t receive rains shortly.  Look for strength today as the market is currently pushing up against key resistance, and if broken, there is a lot room for prices to run.                       

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
SX21 Oct21$13.75$13.25$12.99
CZ21 Oct21$5.90$5.65$5.35
MWZ21 Dec21$8.40$8.25$7.91
Old Crop PremiumNew Crop TargetTrigger Date
0.558.50 MWZ2111/19/21
0.3014.60 SX2110/22/21
0.206.40 CZ2111/19/21

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

Monday June 21, 2021                                               By: Eric Peterson

Corn traded sharply lower overnight following the news of heavy rains across Iowa, Illinois, and Indiana.  After the sell off last week, corn futures have stabilized and found strong support that will need to hold in order for prices to mount a come back this week.  Look for choppy trade today as price action is largely dependent on the weather forecasts.   

Soybeans, like corn were lower the entire night.  The rains over the weekend and forecasted rains for the upcoming week put some of the drought panic at ease.  November soybeans are currently at key technical support of $12.87.  Look for slightly lower trade today as futures are at the mercy of soy oil and weather forecasts. 

Spring wheat was lower to start the week as pressure from corn and soybeans is likely a large contributor to the weakness.  Spring wheat areas continue to deteriorate as the northern plains have experienced severe heat with very little moisture.  Look for slightly lower trade today following the weakness in the corn market.                     

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
SX21 Oct21$13.75$13.25$12.88
CZ21 Oct21$5.90$5.65$5.47
MWZ21 Dec21$8.25$7.85$7.53
Old Crop PremiumNew Crop TargetTrigger Date
0.358.50 MWZ2111/19/21
0.3014.60 SX2110/22/21
0.256.40 CZ2111/19/21

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 June 17, 2021                                               By: Eric Peterson

Corn closed twenty two cents lower this morning just off the overnight low of $6.50.  Rain in the forecast for the corn belt as well as a sharply higher dollar is accredited for the selloff overnight.  The European model has more rain moving into the eastern corn belt in the 6-10 day forecast. Look for lower trade today as the July contract test the 50 day moving average. 

Soybeans are lower once again following the weakness in the soyoil market.  Soyoil closed limit down in at least the 2 front months yesterday.  Soybeans continue to follow the weather market and also feel pressure from concerns about potential lower biofuel targets.  July soybeans are trading below their 100 day moving average for the first time in nearly a year.     

Spring wheat traded two sided overnight with the July contract trading nineteen cent range.  Day 1 of the Kansas Wheat Commission’s Harvest Report indicates expectations for above average crops with 50 bushel per acre yields and 60+ pound test weights.  Look for lower trade today following the weakness in 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
SX21 Oct21$13.75$13.50$13.07
CZ21 Oct21$6.00$5.75$5.49
MWZ21 Dec21$7.97$7.85$7.57
Old Crop PremiumNew Crop TargetTrigger Date
0.498.50 MWZ2111/19/21
0.3014.60 SX2110/22/21
0.256.40 CZ2111/19/21

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 June 16, 2021                                               By: Eric Peterson

Corn traded higher overnight with the July contract closing at the session high of $6.76.  The market found some support after yesterdays’ sell off.  The latest forecasts look drier, although there are chances of storms tonight and tomorrow in the Midwest.  Look for slightly higher trade today as we bounce off technical support. 

Soybeans traded lower overnight on improving conditions and softening demand.  Technical support for November soybeans is below at the 50 day moving average of $13.60 with resistance at $14.27.  Soybean weather is the same as corn but overall, June weather doesn’t mean as much for soybeans.  Look for slightly lower trade today.   

Spring wheat traded higher overnight as North Dakota dryness remains a major concern.  Harvest reports from SW Kansas are coming in around 9.5-11 protein with yields from 62-64 bushels per acre.  Look for slightly higher trade today as a rising world wheat production limits any upside.                    

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
SX21 Oct21$14.15$13.91$13.68
CZ21 Oct21$6.15$6.00$5.79
MWZ21 Dec21$7.97$7.85$7.66

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 June 14th – Friday July 2nd Drayton and all locations will be open from 7am to 5pm Monday- Thursday and will be closed on Fridays for receiving.  The office will be open on Fridays until 2:00pm to take care of marketing needs during this time.  By doing this our employees will be able to have some time off before we get into the harvest push. 

We will be closed Monday July 5th in observance of the 4th of July

Drayton will be closed for receiving Monday June 21st-Friday June 25th for equipment repairs.   

Drayton will be closed for receiving June 21st– June 25th for maintenance. 

Corn traded lower the entire evening session closing twenty four cents lower this morning. July corn may find support around $6.51 then it’s 50 day moving average of $6.45. July is currently 50 cents off last week’s high.  The 8-14 day forecast is showing above normal precipitation across the main U.S corn growing regions.  Look for mostly lower trade today.            

         Soybeans were under pressure overnight on a wetter 8-14 day forecast. However, U.S growing regions remain quite dry.  The November contract is now below $14.00 and the July contract is at its lowest level since mid/late April.  Look for lower trade as soybean traders are watching weather but will also be keeping an eye on biofuel regulations.  

Price Builder Bonus Daily Price PlusFutures at 8:00am
SX21 Oct21$14.25$14.01$13.85
CZ21 Oct21$6.15$6.00$5.75
MWZ21 $7.85$7.60$7.60$7.41

                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 June 8, 2021                                               By: Eric Peterson

Corn traded much higher overnight as dry and hot conditions are expected for much of the western corn belt.  Yesterday’s crop progress report showed conditions in the good/excellent category at 72% vs. 74% expected and 76% last week.  Look for continued strength to start the day as the market remains very reactive to the weather forecasts.                 

Soybeans found strength overnight with support from hot and dry weather in the forecasts for much of the western Corn Belt.  Soybeans conditions were estimated at 67% compared to 70% expected.  Stronger today but volatility will continue due to the any changing weather forecasts.                 

Spring wheat was higher overnight following the strength in the corn and soybean markets.  Extreme volatility in the Minneapolis wheat market continues with the September contract reaching a new high yesterday then trading lower, making a 64 cent range. 

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
SX21 Oct21$14.85$14.67$14.47
CZ21 Oct21$6.40$6.20$6.08
MWZ21 Dec21$8.50$8.25$7.90
Old Crop PremiumNew Crop TargetTrigger Date
0.329.00 MWZ2111/19/21
0.2615.80 SX2110/22/21
0.306.80 CZ2111/19/21

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.

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