Monday Jan 25, 2021 By: Eric Peterson
Corn saw two sided trade overnight with the March contract trading a wide 13 cent range. Fundamental news really hasn’t changed with a 1.552bb U.S carryout projected and signs USDA may still be overstating demand. Friday’s selloff has been pointed to the recent ASF discovery in China and the nervousness they could be in a battle against the disease again. Look for weaker trade today as the soybeans pull corn lower.
Soybeans closed four cents lower this morning after two sided trade and double digit ranges on the overnight markets. Markets struggle between the weather in South America and our bullish balance sheet. Friday export sales showed the U.S has sold 94.5% of the USDA’s forecast. Look for lower trade today as it appears the weaker trade from the end of last week will carry through into next week.
Spring wheat saw mixed trade overnight as the market struggles for direction. The bullish future sentiment appears to have stalled for now as the export restrictions out of the Black Sea has been thoroughly traded. Look for the market to follow the weaker tone in the corn and soybean markets.
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|
|Old Crop Premium||New Crop Target||Trigger Date|
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