Tuesday Oct 13, 2020 By: Eric Peterson
Corn was stronger the majority of the session with the December contract selling off into the morning to close a fraction lower. December corn hit a high of $3.99 yesterday as $4.00 remains the upside objective. Corn harvest seems to be in full swing as a majority of the crop seems to coming off dry. Look for flat to two cents higher today as the market continues to digest Friday’s WASDE report.
Soybeans are seeing a modest rebound after yesterday’s shar sell off with little change in news. Last week’s high of $10.79 will as resistance as yesterday’s low of $10.31 will be support. Harvest seems to be moving along smoothly as we have been seeing more best ever yields than poor yield reports. Look for a volatile session today as we have already traded a 13 cent range overnight.
Spring wheat saw two sided trade overnight as wheat looks to be follower. Looks like Russia is forecasted to get rain as is parts of Western Europe. Global demand looks to be mostly routine as most eyes are focused on Russia weather. Look for choppy two sided trade today.
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|
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.