Skip to main content

Market Signals Weekly Report

The following are comments and discussion items from the weekly conference call of the Market Signals Team.

Discussion Items:

  • MS recommends selling 10 percent 2021 CZ at 5.15.
  • Nearby soybean futures continue to trade near the midpoint of range. Tight U.S. balance sheets supportive, but U.S. spring weather negative.
  • World vegoil prices traded lower on lower palmoil demand. World soymeal prices continue to trend lower on concern about China hog numbers.
  • Nearby corn futures rallied after USDA acreage report but dropping today after China said commodity prices were too high.
  • Soybean and wheat futures have failed to make new 2021 highs. That could be technically negative. Corn made new highs but quickly sold off.
  • Forecast suggests a normal U.S. Midwest planting season. Midwest summer weather could be warm with normal rains.
  • U.S. north plains saw some needed moisture. Brazil and west EU is dry. Argentina and most of the U.S. Midwest weather is good.
  • U.S. HRW crop coming out of dormancy. Crop looks favorable with a 2-week forecast that is cool and dry.
  • USDA estimated U.S. 2020/21 corn carryout near 1,352 million bushels versus 1,396 expected and 1,502 previous.
  • USDA estimated U.S. 2020/21 soybean carryout near 120 million bushels versus 119 expected and 120 previous. USDA raises U.S. exports but dropped residual.
  • USDA estimated U.S. 2020/21 wheat carryout near 852 million bushels versus 847 expected and 836 previous. USDA raised World wheat feeding.
  • Managed funds are net long 140,000 soybean contracts, 430,000 corn and long 10,000 Chicago wheat.
  • Farmer should continue to use a scale up cash selling for new crop sales. Still, prices have yet to trade any weather problem.
  • U.S. infrastructure plan could trigger higher U.S. debt and negative to US dollar. U.S. economy should grow, unemployment should drop.

Contact Your ADM Grain Representative

From early crop-year planning, ‘til your money’s in the bank, we pledge to be the best grain marketing strategists you can find. Ask for ideas anytime.

Enter your ZIP code


Find Your ADM Fertilizer Representative

We’re specialists in driving down nutrient costs through forward pricing and direct purchasing. Let us help you build better margins into your bottom line.