Wednesday September 25, 2019 by: Eric Peterson
Corn closed nearly unchanged this morning. The market picked up some strength on news from a 200k ton sale to Mexico announced yesterday. U.S export corn values are said to be $5-$10 per ton higher than competition from Brazil, Argentina, or Ukraine. Look for choppy two sided trade on a lack of bullish news.
Soybeans traded lower overnight giving back some of the gains made yesterday. China buying interest for U.S soybeans remained on the table yesterday, as several more cargoes were said to have traded. China will continue to exclude some U.S ag products from additional tariffs. Look for slightly lower trade today as traders wait for daily sales announcement from the USDA to verify China export business.
Spring wheat continues to rally with Minneapolis wheat three cents higher this morning. The market continues to find support on poor quality concerns. Rains were again seen in parts of the northern plains and into Canada adding to the concerns. The December contract traded up through its 100 day moving average of $5.41 on more technical buying. Look for mostly higher trade today.
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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