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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 soybean near 9.75 SX21.
  • MS recommends selling 10 percent 2021 corn near 3.90 CZ21.
  • USDA dropped U.S. 2020 corn crop to 14,900 million bushels and carryout to 2,503.
  • Managed funds added to net corn long. U.S. Farmer remains reluctant seller of corn.
  • Recent wet and cold U.S. Midwest weather has slowed maturation and could slow harvest.
  • China buying U.S. corn has helped support futures to near season highs.
  • USDA dropped U.S. 2020 soybean crop to 4,313 million bushels and carryout to 460.
  • Managed funds added to almost record net soybean long. U.S. Farmer is a good seller of soybeans.
  • China buying U.S. soybean has helped push futures to new season highs.
  • USDA increase World wheat supplies but lack of Russia farmer selling has helped support futures.

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