Market Signals Weekly Report
The following are comments and discussion items from the weekly conference call of the Market Signals Team.
- MS recommends selling 10 pct 2022 KC wheat at 8.00.
- US and China trade relations may be improving. Could increase China buying US Ag goods under Phase 1 trade deal
- USDA is expected to increase US 2021/22 soybean carryout to 300 mil bu. Soybean futures becoming oversold
- Trade estimates that 48 pct US soybean crop is harvested. Yields higher than expected. Rains slowing harvest.
- Trade is expected to lower slightly US 2021/22 corn carryout. US domestic basis firming despite slow export outlook
- Trade estimates that 46 pct US corn crop is harvested. Some report corn harvest yields a little below estimates.
- Trade estimates USDA to lower US and World wheat end stocks. World milling supplies near record low.
- Market needs more US 2022 crop acres. Higher fertilizer and energy cost could drop farmer 2022 profits
- Technically, SX support 12.00 resistance 12.50. CZ support 5.25. CZ resistance 5.65. WZ support 7.30. Resistance 7.80.
Now you can review the price and performance history of the Market Signals group back to 2011.
Click Unsold pieces to reveal Recommendations, when applicable.
All price recommendations below are futures price references (not cash equivalents).
Chicago Wheat 2021-crop
Chicago Wheat 2022-crop
KC Wheat 2022-crop
MPLS Wheat 2021-crop
MPLS Wheat 2022-crop
ADM is providing this communication for informational purposes, and it is not a solicitation or offer to purchase or sell commodities. The recommendations in this communication do not take into account any particular individual's or company's objectives or needs, which should be considered before engaging in any commodity transactions based on these recommendations. The sources for the information and recommendations in this communication are believed to be reliable, but ADM does not warrant or guarantee the accuracy of the information or recommendations. ADM or its affiliates may hold or take positions for their own accounts that are different from the positions recommended in this communication. The information and recommendations in this communication are subject to change without notice.