Tuesday Sept 15, 2020 By: Eric Peterson
Corn traded lower overnight with the December contract closing two cents lower. Crop progress showed corn ratings down 1% to 60% good/excellent. Traders were expecting unchanged conditions. The crop is 5% harvested, in line with the average. Look for slightly lower trade today as the market is likely to see resistance as harvest advances.
Soybeans traded higher overnight with the November contract closing three cents off the overnight high. Soybean ratings were down 2% to 63% good/excellent, while traders were expecting unchanged. Soybeans are technically overbought so the market will likely need to see daily bullish news to keep the rally going.
Spring wheat was mixed overnight with the December contract closing nearly unchanged this morning. Spring wheat harvest is all but complete at 92% completed. Look for slightly lower trade as U.S spring wheat has been left out of the China buying spree, but world wheat export values are strong in general.
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 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!
|Old Crop Premium||New Crop Target||Trigger Date|
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