Thursday Feb 25, 2021 By: Eric Peterson
Corn traded lower overnight with the May contract closing ten cents lower. The market was under pressure after a disappointing export sales release. New crop corn saw some strength overnight with the December contract hitting a new contract high at $4.79. Look for mostly weaker trade due to poor export sales.
Soybeans were mixed overnight with the May contract trading to both a 6 week high and new contract high. The products were stronger as well, with May soyoil also setting a new contract high. Weekly soybean export sales were 167,900 tonnes, below estimates that ranged from 200,0000 to 800,000 tonnes. Look for weaker trade to start the day.
Spring wheat traded lower the majority of the overnight session with the May contract closing two cents off the overnight low. The market saw a sharp drop after the weak export sales report was released. Weekly export sales were 167,700 tonnes, below estimates that ranged from 250,000 to 700,000 tonnes. Look for mostly lower 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|
|Old Crop Premium||New Crop Target||Trigger Date|
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