Morning Market Wire

Wednesday June 29, 2022                                               By: Eric Peterson

We have the following the Twins tickets available to our customers, please call for details.

July ticket availability:

  • Friday, July 1 vs. Orioles (8 Dugout)
  • Saturday, July 2 vs. Orioles (10 Dugout)
  • Sunday, July 3 vs. Orioles (10 Dugout)
  • Tuesday, July 12 vs. Brewers (2 Dugout)
  • Wednesday, July 13 vs. Brewers (4 Champions)
  • Thursday, July 14 vs. White Sox (10 Dugout)
  • Friday, July 15 vs. White Sox (8 Champions)

Corn was two sided overnight with the September contract trading an eight cent range overnight. The market was higher on follow through buying from yesterday.  Prices drew additional support from strength in the wheat market.  Ukraine’s 22/23 crop is estimated at 25.1mmt, up significantly from previous estimates because of increased area planted to corn.  Look for mostly higher trade today on strength in the wheat market.                 

Soybeans found strength overnight on additional buying interest, along with position squaring ahead of tomorrow’s USDA report.  The market is also trading higher on spillover strength in the products and a sizeable decline in crop conditions as reported in Monday’s condition report.  Look for continued strength on follow through buying from yesterday. 

Spring wheat traded higher overnight bouncing higher after recent weakness.  The market is likely oversold as many contracts have lost $2.00-$3.00 over the past 30 days.  The U.S continues to add to the wheat supply with winter harvest going strong. Yields are about as expected, maybe even better.  Look for mostly higher trade on increased demand. 

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$15.35$14.85$14.69
CZ22 Oct22$7.27$7.02$6.59
MWZ22 Dec22$11.70$11.20$10.64
Old Crop PremiumNew Crop TargetTrigger Date
0.25$12.00 MWZ2211/23/22
0.25$16.00 SX2210/21/22
0.35$7.00 CZ2211/25/22

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