Corn traded higher overnight with the March contract trading a narrow two cent range. December corn remained above $3.60, but still trails the 50 day moving average of $3.66. The market remains flat ahead of the G-20 Summit. The G-20 Summit begins today with President Trump expected to meet with the Chinese tomorrow. Look for mostly quiet trade today as the market positions itself in front of the weekend.
Soybeans traded higher overnight ahead of today’s G-20 Summit held in Argentina. Part of the headlines yesterday included one saying U.S and China are exploring a possible trade deal that would suspend further tariffs. Look for mostly higher trade today on continually improving outlooks for the G-20 summit.
Spring wheat closed a penny higher this morning as the low volume, uneventful trade continues. The wheat market continues to be stuck in range bound trade as we wait for a major headline to hit the market. Look for mostly quiet trade ahead of the meetings this weekend.
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:||KWEH19||4.94||+0.02|
|CHS Drayton Cash Prices|
|Spring Wheat:||5.29||-0.40 basis||Nov||Delivered Drayton|
|Winter Wheat:||4.14||-0.80 basis||Nov||Delivered Drayton|
|Corn:||3.18||-0.56 basis||Nov||Delivered Drayton|
|Soybeans:||7.57||-1.35 basis||Nov||Delivered Drayton|
Spring Wheat Protein Scales
-.02 cents ea. 1/5 down from 14.0% to 13.0%
-.02 cents ea. 1/5 down from 13.0% to 12.0% (Max -0.20)
+.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.