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Market Signals Weekly Update Posted on 11-29-2021

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 $9.00 KWN22
  • MS recommends selling 10 pct 2023 KC wheat at $8.50 KWN23
  • MS recommends selling 10 pct 2022 MLS wheat at $9.75 MWZ22
  • MS recommends selling 10 pct 2022 Chicago wheat at $8.50 WN22
  • MS recommends selling 10 pct 2023 Chicago wheat at $8.25 WN23
  • MS recommends selling 10 pct 2022 soybeans at $13.00 SX22
  • MS changes selling 10 pct 2021 corn to $6.00 versus CH22
  • MS changes selling 10 pct 2021 corn to $6.35 versus CH22
  • US equity, energy and grain futures dropped sharply on Friday due to new virus. Financials recovered today.
  • Nearby soybean futures traded up to $12.81 on talk of lower US supply and long range forecast of drier Argentina weather.
  • January soybean dropped to $12.41 on talk of lower US exports. South America weather is favorable.
  • Dec corn rallied last Friday due to option expiration. Dropped today on lower exports.
  • Some feel USDA could keep US 2021/22 corn carryout near 1,493. Higher ethanol offset by lower exports.
  • Some feel CZ is in a trade range between $5.40 and $6.00 until more is known about South Americas weather.
  • WZ and KWZ dropped to near key support on concern over US export demand. MWZ is firm on lower World supplies.
  • US farmers have been active sellers of old crop and new crop supplies. US crushers need more. Export demand is slow.
  • Grain chart formation suggest that nearby demand is supportive but futures may be positioning for a lower trend.
  • Early guesses for US 2022 acres are near 91.0 million corn, soybean 87.9 and all wheat 49.4.

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

(March 2022 Futures)
11-29-2021 Board Settle Price: $5.8225

2022-crop

(December 2022 Futures)
11-29-2021 Board Settle Price: $5.5625

2021-crop

(January 2021 Futures)
11-29-2021 Board Settle Price: $12.4150

2022-crop

(November 2022 Futures)
11-29-2021 Board Settle Price: $12.2900

Chicago Wheat 2022-crop

(July 2022 Futures)
11-29-2021 Board Settle Price: $8.1750

Chicago Wheat 2023-crop

(July 2023 Futures)
11-29-2021 Board Settle Price: $7.5575

KC Wheat 2022-crop

(July 2022 Futures)
11-29-2021 Board Settle Price: $8.3750

KC Wheat 2023-crop

(July 2023 Futures)
11-29-2021 Board Settle Price: $7.7075

MPLS Wheat 2022-crop

(December 2022 Futures)
11-29-2021 Board Settle Price: $9.2575

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.