Morning Market Wire

Friday November 15, 2019 by: Eric Peterson

Drayton will be accepting taking wet and dry soybeans today. Please call for corn schedule.

Corn closed unchanged this morning after closing a ½ cent higher yesterday. Prices were able claw their way back to positive territory yesterday on hopes of increased feed demand and decent ethanol production and stocks numbers. Harvest activity could be tough with forecasts of warmer temperatures across the U.S Midwest this weekend. Look for mostly choppy trade today.

Soybeans traded two sided overnight with the January contract closing two cents higher. The market has been mixed on concerns over U.S/Chinese trade war issues including in the “Phase One” agreement. Talk is that both sides are involved with in depth discussions to resolve issues like rolling back tariffs. Look for steady to higher trade as Brazil weather forecasts look to be dryer.

Spring wheat closed a penny lower this morning with the December contract trading a narrow two cent range overnight. The wheat market has been under pressure on plentiful global supplies and light demand for U.S wheat. Egypt bought a fair amount of wheat for January and there was no U.S wheat in the mix. Look for lower trade today on a lack of export sales.

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.)

Below is the third compass contract we offer which pays you a premium for your old crop for potentially selling the same amount of new crop. You only sell the new crop if the futures are equal to or greater than the target price on the trigger date. There are many different premiums and target prices available. Please call for more info!

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