Monday Feb 22, 2021 By: Eric Peterson
Corn closed two cents higher this morning with the March contract trading a five cent range overnight. The market saw firm trade overnight on active rumors that China was an active buyer of U.S corn last week for summer time slots. Overall, corn futures remain in consolidation, nearly 30 cents off contract highs from earlier in February. Look for mostly higher trade today.
Soybeans saw choppy trade overnight and are trading mixed as the overnight session draws to a close. November soybeans traded to a new contract high of $12.07 overnight before drifting lower. Brazil received rain over the weekend, which is expected to continue this week and will likely delay soybean harvest. Look for mostly mixed trade today.
Spring wheat traded higher overnight with the March contract closing two cents off the session high. News remains mostly routine as the market tries to figure out if the recent cold temps did any harm. 2021 U.S spring wheat acres could be at risk, the USDA will be surveying farmers shortly, as the survey could be quite interesting on March 31. Look for mostly higher trade today led by the strength in Minneapolis.
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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