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:

  • Nearby corn futures dropped today to $6.58. Late June normal US Midwest weather forecast weighed on prices.
  • Nearby soybean futures dropped today to $14.72 and November tested $13.96. Slow export demand and bearish USDA report weighed on prices.
  • Nearby Chicago wheat futures dropped today to $6.73. KC to $6.26. Approaching US harvest weighed on futures.
  • Funds liquidated long grain positions on strong seasonal that futures make tops in June and slowdown in export demand.
  • US corn crop was rated 68 pct G/E.  Soybeans rated 62 pct G/E. Spring wheat rated 37 pct G/E. Winter wheat harvest 4 pct done.
  • Managed funds are net long 114,000 soybean contracts, 275,000 corn and short 11,000 Chicago wheat. Increase volatility reducing trade and open interest.
  • US farmer corn and soybean new crop selling has slowed but still above normal. Most willing to increase selling on rallies.
  • Corn, soybean, soyoil and wheat technical signals are negative but weather markets are extremely volatile.
  • Weather is dry in US north plains and parts of the US NW Midwest. Rains continue in east and Delta.
  • USDA estimated US 2020/21 corn carryout is 1,107, soybean 135(lower crush) and wheat 852
  • USDA estimated US 2021/22 corn carryout is 1,357, soybean 155 and wheat 770


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.