We will be having Marketing Meetings June 25th and June 26th. NDSU Professor Frayne Olson will be giving a market update on corn, soybeans and wheat. Please call the office for details.
Monday June 25th– Manvel Community Center 9:00am
Monday June 25th– Cavalier Country Club 12:30pm
Tuesday June 26th– Kennedy VFW 10:00am
-We have several HOPPER BINS FOR SALE, please call the office for details.
Corn was weaker overnight yet again as good growing weather and trade concerns pressure the market. The July contract was able to stay above its new contract low from last Friday. December corn put in a contract high of $4.29 on May 24th and has now set its contract low of $3.79. Funds continue to trim their length with a reported long of 84,500 contracts down 55,800. Look for weaker trade off the open due to good growing conditions and trade concerns.
Soybeans traded two sided overnight with the July contract trading a wide twelve cent range. July soybeans are currently just above $9.00, and front month soybeans have not traded below $9.00 since spring of 2016. The Commitment of Traders showed funds being aggressive sellers of soybeans, as they sold 48,000 contracts bringing them to a net short of 11,400 contracts. Look for lower trade on concerns with Chinses tariffs and favorable growing conditions.
Spring wheat traded lower overnight with the July contract trading a three cent range. Currently, technical support is near $5.63 with resistance at $5.87. The markets were weaker overnight on continued harvest pressure. Winter wheat harvest has showed below average yields with decent quality and protein. Look for lower trade off the open as we add to an already ample wheat supplies.
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 is 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|
|Futures markets as of 8:30 AM|
|Kansas City HRW:||KWEN18||5.12||-0.07|
|CHS Drayton Cash Prices|
|Spring Wheat:||5.42||-0.25 basis||June||Delivered Drayton|
|Winter Wheat:||4.32||-0.80 basis||June||Delivered Drayton|
|Corn:||3.10||-0.48 basis||June||Delivered Drayton|
|Soybeans:||8.18||-0.85 basis||June||Delivered Drayton|
Spring Wheat Protein Scales
-.09 cents ea. 1/5 down from 14.0% to 13.0%
-.09 cents ea. 1/5 down from 13.0% to 11.5% (Max -1.15)
+.09 cents ea. 1/5 from 14.0% to 15.0%
+.00 cent bump at 15.0% pro
Any information, materials and opinions (together, “CHS Materials”) presented by CHS to the recipient of such CHS Materials, whether in written or oral form, is for general information purposes only and does not constitute legal or other professional advice and should not be relied on or treated as a substitute for specific advice relevant to particular circumstances. CHS makes no warranties, representations or undertakings, whether express or implied, about any CHS Materials (including, without limitation, any as to the quality, accuracy, completeness or fitness for any particular purpose of any CHS Materials). Recipient agrees that CHS shall not be liable to recipient relating to or resulting from the use of any CHS Materials or any inaccuracies or errors therein or omissions therefrom.