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Market Signals Weekly Update Posted on 10-18-2021

Market Signals Weekly Report

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

Discussion Items:

  • US/Global inflation continues to increase especially energy and food. Higher energy is pushing fertilizer prices sharply higher
  • USDA raised US 2021/22 soybean carryout to 320 mil bu due to higher 2020 supply. SX traded down to 11.84.
  • China returned to the buying US soybeans. SX is now near 12.21.  South America 2022 soybean crop off to favorable start.
  • USDA raised US 2021/22 corn carryout to near 1,500. Some feel final demand could be higher and carryout could be closer to 1,300
  • CZ dropped to near key support and 5.06. Futures are oversold. End user buying and new Chart bottom pick has CZ now near 5.33.
  • High storage cost has some farmers willing to sell extra soybean and corn bushels at the market.
  • Wheat futures continue an uptrend from June,2020 low. Some feel tight World stocks could send futures higher
  • US, French and Black Sea wheat futures could be overbought and due to some correction or consolidation.
  • USDA lowered US 2021/22 wheat carryout 35 mil bu to 590 and first time the carryout has been below 600 in 8 years.

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)
10-18-2021 Board Settle Price: $5.3275

2022-crop

(December 2022 Futures)
10-18-2021 Board Settle Price: $5.2775

2021-crop

(November 2021 Futures)
10-18-2021 Board Settle Price: $12.2150

2022-crop

(November 2022 Futures)
10-18-2021 Board Settle Price: $12.2450

Chicago Wheat 2021-crop

(December 2021 Futures)
10-18-2021 Board Settle Price: $7.3625

Chicago Wheat 2022-crop

(July 2022 Futures)
10-18-2021 Board Settle Price: $7.4000

KC Wheat 2022-crop

(July 2022 Futures)
10-18-2021 Board Settle Price: $7.5000

MPLS Wheat 2022-crop

(December 2022 Futures)
10-18-2021 Board Settle Price: $8.2600

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.