Morning Market Wire

Monday June 6, 2022                                               By: Eric Peterson

Corn trade higher overnight with the July contract trading a ten cent range. Support came overnight as Russia’s army hit some of the remaining Ukraine export facilities.  U.S weather appears to be mostly favorable for crop development.  Look for mostly higher trade today with continued distress in the Ukraine. 

Soybeans traded higher overnight but weaker in the close. The market followed the strength in the corn and wheat markets.  The U.S farmer continues to get soybeans seeded while battling wet fields, overall growing conditions look favorable.  Look for mostly higher trade today.     

Spring wheat was higher off the open last night as global food and geopolitics dominate headlines and money flow.  News of Russia striking another major Ukraine export facility supported the market overnight.  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$15.89$15.65$15.36
CZ22 Oct22$7.75$7.40$7.00
MWZ22 Dec22$13.50$12.75$12.19
Old Crop PremiumNew Crop TargetTrigger Dat
0.2816.00 MWZ2211/23/22
0.3516.00 SX2210/21/22
0.238.00 CZ2211/25/22

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.

© 2022 CHS Inc.