Thursday June 16, 2022 By: Eric Peterson
Corn traded higher overnight with the December contract leading the way higher making a three week high at $7.31 overnight. The market is going to continue to be reactive to what the weather model forecasts are predicting for precipitation for the next 5 days appear to be dry for most of the Corn Belt. Look for mostly higher trade today.
Soybeans are higher this morning following the strength in the soymeal market. July soybeans have dropped 48 cents from last Friday’s close and November has dropped 40 cents as soybeans have been influenced more so than the grains by the crude oil and macro markets this week.
Spring wheat was higher overnight with the July contract trading a seven cent range. The Oklahoma wheat commission pegs their wheat harvest at 55% complete with protein levels averaging between 12 and 13% with yield widely variable. Look for slightly higher trade with spillover strength from the corn market.
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.