Thursday Sept 24, 2020 By: Eric Peterson
Our current DP program on Soybeans is -.05 cents/bu. per month 4 month minimum. Bushels must be signed up before hauling.
Corn was weaker overnight with the December contract closing three cents lower this morning. The market was under pressure overnight by good weather and lower soybeans. Export sales were 2.14mmt vs. expectations of 1.050mmt to 1.800mmt. Farmer selling is noted as being quiet as many look to sell soybeans and store corn. Look for lower trade today with market following soybeans.
Soybeans were down double digits overnight as weather looks mostly favorable for harvest activity. Early reports are that yields are coming in better than expected after last week’s frigid temperatures. Yesterday, the USDA announced a sale of 132k tonnes of beans to China and 126k tonnes of beans to unknown. Look for mostly lower trade today as harvest activity is picking up.
Spring wheat was mostly weaker overnight with the December contact closing a penny off the overnight low of $5.29. The market continues to trade lower on a stronger U.S dollar and a large world stocks. Harvest is complete as the focus now shifts to harvesting other commodities and planting winter wheat. Look for mostly lower trade today on spillover weakness from corn and soybeans.
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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