Monday January 6, 2020 by: Eric Peterson
Corn prices turned lower overnight on spillover weakness in the soybean and wheat markets. Rangebound trade is expected to continue ahead of the Jan 10th USDA data and the Jan 15 signing of the U.S/China trade agreement. Spec funds remain short although not as short as a week ago. Look for mostly rangebound trade on a lack of supportive news.
Soybeans are seeing a set back after picking up about sixty cents since December 1st. Overnight weakness was expected as the market was unable to hold on to gains yesterday. Look for mostly lower trade on beneficial weather in South America and a lack of fresh supportive news.
Spring wheat saw a technical setback after the past several sessions of firmer prices. Losses should continue to be limited ahead of the Jan 10 USDA report and the signing of the U.S/China trade agreement on the 15th of January.
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.)
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 are 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!
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