Morning Market Wire

Wednesday May 4, 2022                                               By: Eric Peterson

We have the following Minnesota Twins tickets available to our customers at a first come first serve basis.  Please call the office for details. 

  • Friday, May 6 vs. Athletics (8 Champions)
  • Wednesday, May 11 vs. Astros (10 Dugouts)
  • Friday, May 13 vs. Guardians (6 Dugouts, 2 groups of 3)
  • Saturday, May 14 vs. Guardians (8 Champions and 10 Dugouts)
  • Sunday, May 15 vs. Guardians (6 Dugouts, 2 groups of 3)
  • Tuesday, May 24 vs. Tigers (10 Dugouts)
  • Wednesday, May 25 vs. Tigers (10 Dugouts)
  • Thursday, May 26 vs. Royals (8 Champions)
  • Sunday, May 29 vs. Royals (8 Champions)

Corn traded higher overnight on strength in the wheat market, delays in U.S corn plantings, along with dryness in EU and Brazil’s corn areas.  July corn tested its 10 day moving average of $8.02 with an overnight high of $8.03. December could test $7.50.  Look for mostly higher trade today on crop concerns and strength in the wheat market.         

Soybeans closed a dime higher this morning just off the overnight high of $16.44.  The 50 day moving average for July soybeans is above at $16.51 and will act as resistance.  The July/Nov spread is now at $1.54 inverse.  Look for mostly higher trade today on borrowed strength in the energy and soyoil markets. 

Spring wheat traded higher overnight with the July contract closing 24 cents higher.  The market found strength once again on global supply worries, dryness in the U.S Southern Plains and cool/wet conditions in the U.S Northern Plains.  Look for continued strength 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 BonusDaily Price PlusFutures at 8:00am
SX22 Oct22$15.80$15.43$14.87
CZ22 Oct22$7.85$7.65$7.40
MWZ22 Dec22$12.10$11.85$11.69
Old Crop PremiumNew Crop TargetTrigger Date
0.5513.00 MWZ2211/23/22
0.3017.00 SX2210/21/22
0.508.00 CZ2211/25/22

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