CHS Drayton will be dumping only corn and soybeans. No wheat now.
FOR SALE: 10×70 Farm King Auger. Please call office for details.
Corn closed nearly unchanged this morning with the December contract trading a narrow two cent range overnight. December corn closed yesterday below the 100 day moving average of $3.71 and stayed below that level overnight. The market is expected to trade a tight range from $3.60 to Monday’s high of $3.78 in the short term with harvest adding pressure but strong demand providing underlying support.
Soybeans closed a penny lower this morning after closing down over twenty cents yesterday. The market was weaker yesterday on poor export sales this week and ramping up of harvest progression. November soybeans lost all their gains from the October 15th rally, not seeing a 20 plus cent drop since August 10th. The soybeans that were hit with large rains and snow are getting dry enough to harvest again and quality will be the focus going forward.
Spring wheat traded slightly weaker overnight as the market sees little if any fresh news. Saskatchewan is at 72% harvested on spring wheat versus 65% last week. Canadian prairies have had a large amount of snow slowing their harvest but should make good progress this week as forecasts look favorable.
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 8:00am|
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:||KWEZ18||5.14||-0.01|
|CHS Drayton Cash Prices|
|Spring Wheat:||5.22||-0.63 basis||Oct||Delivered Drayton|
|Winter Wheat:||4.34||-0.80 basis||Oct||Delivered Drayton|
|Corn:||3.03||-0.67 basis||Oct||Delivered Drayton|
|Soybeans:||7.04||-1.60 basis||Oct||Delivered Drayton|
Spring Wheat Protein Scales
-.03 cents ea. 1/5 down from 14.0% to 13.0%
-.03 cents ea. 1/5 down from 13.0% to 12.0% (Max -0.40)
+.02 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.