Thursday April 21, 2022 By: Eric Peterson
Corn was weaker overnight with the July contract trading a seven cent range. News this morning is light as the market continues to focus on our weather and the slow planting pace, along with the ever growing concerns in the Black Sea region. Look for mostly higher trade today as there remains to be plenty of bullish stories in the market right now but trade direction will be based on money flow as well.
Soybeans were mixed overnight with the July contract trading a thirteen cent range. November soybeans are still thirty cents off the contract high of $15.55. Demand for soybeans remains quite strong with old crop sales nearing wheat the USDA’s estimate is at for the entire crop year. The overall complex remains well supported by a number of factors, helping to keep momentum higher in place.
Spring wheat was mixed overnight closing the session nearly unchanged. Export sales for 21/22 caem in at 26,300mt while estimates were from 0-350kmt. Parts of eastern Montana and western North Dakota are once again under a winter storm watch wih a mixture of snow, rain, and high winds expected. This raises concerns over the timeliness of the spring wheat crop getting planted.
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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