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Corn traded two sided overnight with the May contract closing the overnight session three cents higher. Strength came overnight on news of the economic stimulus package but there is still underlying pressure of poor ethanol demand. Ethanol production stats will be released this morning. Acreage polls for 2020 continue to circulate with estimates any where from 92-95 million. Look for slightly better trade today but limited gains as ethanol issues continue.
Soybeans closed nearly unchanged this morning after trading a wide 17 cent range overnight. The markets saw a boost after Congress and the White House agreed on an economic stimulus package to battle the coronavirus impact on the economy. There continues to be optimism that China will buy more U.S soybeans has there is news that their supply has tightened. Look for mostly higher trade today.
Spring traded was mostly higher overnight as there isn’t much fresh news to push the market. Strong domestic and global flour demand remain the story as mills as mills and bakers try to refill the grocery shelves that are stressed by the world’s consumer. Look for mixed trade as the market may need some fresh news to continue move upward.
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|
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