Monday June 29, 2020 By: Eric Peterson
We will be closing at noon on Thursday July 2nd and will be CLOSED Friday July 3rd.
Corn traded higher overnight with the July contract closing just off the overnight high of $3.21. Tomorrow, the USDA will release the much anticipated planting and quarterly stocks report. The average trade estimated for tomorrows report is 95.21 million acres this compares to an estimate of 96.99 on the March 31 report. Look for slightly higher trade today on positioning ahead of tomorrow’s report.
Soybeans saw mixed trade overnight ahead of tomorrow’s report and end of month positioning. Overall U.S weather remains favorable as scattered rain events occur across the U.S. An improved crop rating is expected on today’s crop condition report. Tomorrow’s report is expected to show acres around 85 million acres up from the intentions report of 83.5 million. Look for mixed trade today.
Spring wheat was slightly weaker overnight with the July contract closing below $5.00. The July contract seems to be following the same trend as the May contract of expiring near contract lows. Dryness in North Dakota and Canada continues to be a concern for spring wheat. Look for mostly mixed trade ahead of tomorrow’s report.
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|
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!
|Old Crop Premium||New Crop Target||Trigger Date|
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