A dry weekend starts grain markets off the right foot to start the week. Rain had been anticipated throughout parts of the upper Midwest, but failed to develop especially in Iowa where it is considered to be most stressed. As a result futures gapped higher Sunday night and held on to gains throughout the day. Export inspections released this morning showed better the expected corn loadings and soybeans were respectable as well.
Weekly crop conditions capped off the day with slightly lower corn ratings and slightly improved beans ratings. Both corn and beans were expected to be unchanged this week, but the corn slipped one percentage point while beans gained one percentage point. Seasonally corn does start to slide in weekly condition ratings, but look for this to be viewed slightly friendly when we reopen tonight. The improved bean conditions on the other hand, are likely to be viewed as slightly negative.
Consider this… The calendar is quickly moving toward new crop once again. Corn prices have been less than exciting all summer long leaving a lot of unpriced grain sitting in bins on the farm. Recent producer sales have been very slow which has helped basis levels firm slightly over the past week. Now might be a good time to consider a Cash Plus contract. One example would be to sell nearby cash and add a Cash Plus for next July, adding $0.16 to old crop sale with a firm offer to sell if the July 18 futures are above $4.40 on 6/22/18. Call your Aaron or Jared for more information.
Don’t keep wondering… ASK A MERCHANDISER!
How can I watch the market and sell at my price when it is constantly changing? Continued…
Grain prices are always changing. We can help keep you informed throughout the day with market updates and changes. We have the ability to keep you updated with market updates via text messages three times per day. We also send out a bid sheet daily with all the CHS Rochester locations cash bids along with basis and futures values. If you would like to learn more, or get signed up for bid text or emails, call Aaron or Jared to get started.
Kasson: 507-634-7545 ext 7
This Material has been prepared by a sales or trading employee or agent of CHS and should be considered a solicitation. The information contained in this presentation is taken from sources which we believe to be reliable, but is not guaranteed by us as to accuracy or completeness and is sent to you for information purposes only. There is a risk of loss when trading commodity futures and options. CHS bases its recommendations solely on the judgment of CHS personnel.