Morning Market Wire

Friday June 17, 2022                                               By: Eric Peterson

Wednesday June 22nd and Thursday June 23rd Harold, Brian and I will be out of the office.  Our new intern John Tweed will be in the office and able to help you.  If you need any of us, we can be reached on our cell phones.

Corn traded higher this morning as the July contract is testing the $8.00 level and December corn is topping out at $7.47.  July corn is now at its highest level since May 18th.   The market seems to be finding some strength ahead of the long weekend as the markets are closed on Monday.  Look for mostly higher trade today.          

Soybeans are higher this morning as the November contract has gained back some of th losses from earlier this week.  November soybeans are currently 17 cents down from Friday’s close, the range has been $14.87 to $15.84 since May 17th.  Look for slightly higher trade today. 

Spring wheat was slightly lower overnight with the July contact trading a relatively narrow six cent range.  Winter wheat harvest continues to roll on quickly in the southern plains and reports start to come in as well.  Look for lower trade to start the day but strength in the corn market could spill over to wheat.      

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$15.87$15.65$15.51
CZ22 Oct22$7.90$7.55$7.47
MWZ22 Dec22$12.95$12.38$12.10
Old Crop PremiumNew Crop TargetTrigger Date
0.2816.00 MWZ2211/23/22
0.3517.00 SX2210/21/22
0.238.00 CZ2211/25/22

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