CHS Drayton: Afternoon Market Wire (03/01)

Harvest for Hunger 2017 has begun and will continue through March 20th.  Stop in to your nearest CHS location to see how you can help make a difference in the fight against hunger through CHS Harvest for Hunger. Let’s show the strength that comes from rural communities working together!

-Corn closed eight cents higher today on technical support and spillover strength from the soybean market.

Soybeans traded higher into the close, closing just off the day’s high of $10.52.  Support came from technical support and strength in soyoil.

Wheat closed slightly higher at 5.60 with support 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 Bonus Daily Price Plus Futures at 1:30pm
SX17 (Nov.) $10.96 $10.70 $10.32
CZ17 (Dec.) $4.30 $4.15 $4.01
MWZ17 (Dec.) $6.07 $5.90 $5.81

 

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
0.19 6.00 MWH18 2/21/2018
0.43 10.60 SX17 10/25/2017
0.17 4.20 CZ17 11/22/2017

 

Futures markets as of 1:30 PM
Minneapolis Wheat: MWEK17 5.60 +0.10
Kansas City HRW: KWEH17 4.77 +0.13
Soybeans: SK17 10.51 +0.16
Corn: CK17 3.82 +0.08
       

 

CHS Drayton Cash Bids
Spring Wheat: 4.90 -0.70 basis March
Winter Wheat: 3.72 -1.05 basis March
Corn: 3.09 -0.73 basis March
Soybeans: 9.24 -1.27 basis March
           
             

Spring Wheat Protein Scales

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

-.06 cents ea. 1/5 down from 13.0% to 12.0%

+.04 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.

 

 

© 2019 CHS Inc.