Morning Market Wire

Thursday July 14, 2022                                               By: Eric Peterson

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

Aug ticket availability:

  • Monday, August 10 – 10 Dugout (groups of 7 and 3)
  • Friday, August 5 – 10 Dugout (groups of 7 and 3)
  • Tuesday, August 16 – 8 Dugout (groups of 5 and 3)
  • Monday, August 22 – 8 Champion
  • Friday, August 26 – 10 Dugout (groups of 7 and 3)
  • Sunday, August 28 – 10 Dugout (groups of 7 and 3)
  • Monday, August 29 – 10 Dugout (groups of 7 and 3)
  • Wednesday, August 31 – 10 Dugout (groups of 7 and 3)

Corn traded higher overnight with the September contract trading a fifteen cent range.  December corn hit a low of $5.76 yesterday with more support down at $5.66.  Support came overnight on buying interest from updated forecasts showing dry weather over the next seven days.  Look for the choppy trade to continue as we keep trading weather. 

Soybeans saw near double digit losses and a thirty cent range overnight.  November soybeans traded below the 200 day moving average and will look for support closer to $13.00.  Soybean oil falls as crude and palm oil trade lower, and meal and board crush values are stronger.  Look for slightly lower trade today.          

Spring wheat was two sided overnight with the September contract trading 25 cent range.  The Rosario Grain Exchange in Argentina lowered their wheat crop estimate 800k mt to 17.7mmt due to a reduction in planted area due to drought.  Look for the choppy rangebound trade to continue to end the week.     

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$13.80$13.5$13.40
CZ22 Oct22$6.50$6.30$6.00
MWZ22 Dec22$10.05$9.85$9.40
Old Crop PremiumNew Crop TargetTrigger Date
0.2810.60 MWZ2211/23/22
0.2315.00 SX2210/21/22
0.207.00 CZ2211/25/22

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