CHS will be holding a series of market update meetings in our trade area. Join us to learn more about current market conditions and special offerings from CHS.
Click on the meeting date for more information.
Thursday, June 22, 2017
St. Charles Moose Lodge #1114
Monday, June 26, 2017
Wednesday, June 28, 2017
Wedgewood Cove Golf Club, Albert Lea
RSVP to any of the meetings at www.chsag.com.
Not much new or different in the grain markets this week. Fresh news is generally lacking to provide direction to the market. On the macro market front, a softer dollar index help support today’s small futures rally. Respectable export sales report for beans and wheat was also seen lending support to the market. The funds still hold net short positions, so any reason for nervousness could contribute to slight short-covering as we saw to end this week.
Planting progress and crop conditions were in line with five year averages, which was slightly surprising to the market. Near term weather forecasts look favorable to wrap up planting, and even replanting, in most areas. Some talk has surfaced of dryness concerns in the Dakota’s wheat country. However, not enough to make too much impact on the market just yet. Some chatter about the slower start to this year’s growing season has given a slightly more friendly bias to producer price sentiment. However, the board has done little to help producers make favorable sales on either old or new crop, and basis has done even less. Corn basis has softened nearby as river markets sort out the impacts of high water and increase freight costs. Bean basis has also softened slightly from last week’s uptick. End users are fully aware of the ample supply of grain sitting in the country unpriced and are waiting and expecting to see a flush of grain at wider basis sometime between now and harvest.
Read Full Market Update
CHS – Rochester Grain Team
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.