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Market Signals Weekly Update Posted on 10-11-2021

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 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.

Performance Charts

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).


2021-crop

(December 2021 Futures)
10-11-2021 Board Settle Price: $5.3300

2022-crop

(December 2022 Futures)
10-11-2021 Board Settle Price: $5.2725

2021-crop

(November 2021 Futures)
10-11-2021 Board Settle Price: $12.2825

2022-crop

(November 2022 Futures)
10-11-2021 Board Settle Price: $12.3775

Chicago Wheat 2021-crop

(December 2021 Futures)
10-11-2021 Board Settle Price: $7.3175

Chicago Wheat 2022-crop

(July 2022 Futures)
10-11-2021 Board Settle Price: $7.4000

KC Wheat 2022-crop

(July 2022 Futures)
10-11-2021 Board Settle Price: $7.4075

MPLS Wheat 2021-crop

(December 2021 Futures)
10-11-2021 Board Settle Price: $9.4550

MPLS Wheat 2022-crop

(December 2022 Futures)
10-11-2021 Board Settle Price: $8.1125

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.