All locations will be closing Wednesday January 30 at 11:00am for Safety Training.
We will be having Marketing Meetings on February 5th at 9:00am in Cavalier and 12:00pm in Drayton.
Corn closed unchanged this morning with the March contract trading a narrow one cent range overnight. March corn is holding above most moving averages and 8 cents below its 200 day moving average of $3.88. Support comes from adverse weather in South America and ideas of a smaller corn yield for the final production numbers. Look for mostly steady trade today as the market awaits fresh supportive news.
Soybeans traded lower overnight as South America received some light, scattered precipitation. The March contract is currently just below the 200 day moving average of $9.22. Prices garnered support last week on ideas of sizeable reductions to the Brazilian soybean crop from continued dryness. Look for lower trade on rains in Brazil and lack of Chinese interest in U.S soybeans.
Spring wheat traded higher overnight bouncing off the low of the recent trading range. Ideas that Russian exports may slowdown also provided support. U.S/China trade talks will also be focus; will they confirm the recent rumor that China will buy 3-7mmt of U.S wheat? Look for higher trade today on hopes of improving demand of U.S supplies.
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||5.12||+0.02|
CHS Drayton Cash Prices
|Spring Wheat:||5.32||-0.45 basis||Jan||Delivered Drayton|
|Winter Wheat:||4.32||-0.80 basis||Jan||Delivered Drayton|
|Corn:||3.26||-0.54 basis||Jan||Delivered Drayton|
|Soybeans:||7.90||-1.30 basis||Jan||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.