Wednesday May 25, 2022 By: Eric Peterson
Corn traded lower overnight as the market continues to see a modest pull back as July corn breaches its 50 day moving average of $7.68 and sees its lowest price since early April. July corn has been below its 50 day moving average 5 times since October. Look for lower trade today on improving weather, fund liquidation, and reports that Russia may allow food exports from Ukraine.
Soybeans saw two sided trade which turned lower this morning. The November contract is attempting to stay above $15.00 with technical support below at the 50 day moving average of $14.89. China continues to have lockdowns due to Covid. The lockdowns are reported to have slowed soyoil consumption in China.
Spring wheat saw follow through selling overnight with the July contract closing nearly thirty cents lower. July wheat has retraced 50% of the move higher of May, but still about $2.00 above in early March. Despite recent losses, the price trend remains higher as weather is a concern in the winter wheat belt and planting progress in the Northern Plains is stalled.
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.