Monday April 19, 2021 By: Eric Peterson
Corn futures opened higher Sunday night, with prices strengthening into the morning. July futures were as high as eleven cents at one point last night. New crop corn set new contract highs in the overnight session, reaching $5.20. Freezing temperatures throughout the corn belt this week are threatening any recently planted corn and are likely contributing to the strength in the market.
Soybeans found strength overnight with the July contract up fourteen cents at one point. Soybeans still appear to be in a bull market with U.S weather cooler than normal and not ideal. November soybeans got within a penny of its contract high of $12.85. Given the technical and fundamental factors as of late, look for soybeans to continue trading firmer, testing old contract highs.
Spring wheat traded higher overnight with Kansas City wheat leading the way due to the freezing temps that could severely damage the winter wheat crop. Minneapolis wheat set new contract highs overnight and will need to continue to trade higher given the current acreage battle.
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|
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.