Morning Market Wire

Corn saw two sided traded overnight before turning mostly higher.  July 2022, December 22, and December 23 corn all once again saw new contract highs.  Weekly ethanol production slipped below the needed level for the second consecutive week last week, keeping grind rates in focus.  Trade is expected to remain strong on the news of added ethanol and delayed planting. 

Soybeans are higher this morning following the strength in the soymeal and soyoil markets.  For the week, soyoil has pushed to contract highs on the strength in crude and heating oil this week.  The soybean complex is expected to continue to be volatile as China remains the wild card for the market.         

Spring wheat saw follow through buying overnight as the market continues to find support on the distress in Ukraine.  Implications the war has caused on global trade remains to be uncertain.  Look for mostly higher trade today as the weather is a concern in the winter wheat belt and planting progress is stalled in the Northern Plains.          

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 BonusDaily Price PlusFutures at 8:00am
SX22 Oct22$15.80$15.30$15.09
CZ22 Oct22$7.75$7.55$7.37
MWZ22 Dec22$12.10$11.70$11.47
Old Crop PremiumNew Crop TargetTrigger Date
0.7213.00 MWZ2211/23/22
0.4517.00 SX2210/21/22
0.607.40 CZ2211/23/22

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