We will be hosting a Marketing Meeting Thurs. Jan 25th 1:00pm at Hastings Landing, lunch will be served. We will be giving a market update and going over Compass contracts. Please call the office to RSVP
Corn was weaker overnight as it appears the March contract wants to hang around the $3.50 mark. The market remains range bound from $3.45 to $3.55. The fifty day moving average is at $3.52. Large spec funds are short an estimated 252k, which could lead to a short covering rally. Look for slightly higher trade today on South American weather concerns.
Soybeans traded higher overnight on dryness in Argentina which triggered some fund buying. The market traded a six cent range overnight with the March contract closing just below the session high of $9.88. Hot and dry weather in Argentina has affected early planted soybeans which are now in the flowering stage. The forecast is expected to remain dry through early February. Look mostly higher trade today as the market has closed higher for seven consecutive sessions.
Spring wheat closed a penny higher this morning after trading a narrow two cent range overnight. Yesterday the market found support on technical selling and short covering. However, gains continue to be limited as the Southern plains received adequate moisture over the weekend. Look for mixed 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 1:30pm|
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|
|Futures markets as of 8:30 AM|
|Kansas City HRW:||KWEH18||4.28||0.00|
|CHS Drayton Cash Prices|
|Spring Wheat:||5.83||-0.25 basis||Jan||Delivered Drayton|
|Winter Wheat:||3.53||-0.75 basis||Jan||Delivered Drayton|
|Corn:||2.91||-0.60 basis||Jan||Delivered Drayton|
|Soybeans:||8.97||-0.90 basis||Jan||Delivered Drayton|
Spring Wheat Protein Scales
-.10 cents ea. 1/5 down from 14.0% to 13.0%
-.08 cents ea. 1/5 down from 13.0% to 11.0%
+.10 cents ea. 1/5 from 14.0% to 15.0%
+.10 cent bump at 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.