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Market Signals Weekly Update Posted on 01-10-2022

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 of 2022 soybeans at $14.00. This in case of a US spring weather rally.
  • US equity and energy futures traded lower on concern over Omicron virus, supply chain issues and US Fed raising interest rates.
  • US Dollar has turned higher. This is offering resistance to most commodity prices including wheat and corn.
  • March soybean futures traded up to $14.15 on talk of dry and warm South America weather. Rains next week offered resistance.
  • March corn futures may be establishing a wide range between $5.85 and $6.15. Increase demand offers support.
  • WH and KWH found support today on liquidation of long corn and short wheat positions. US export prices are noncompetitive.
  • Trade estimates US 2021 corn crop at 15,069 mil bu vs 15,062 and soybean 4,433 vs 4,425.
  • Trade estimates US December 1 stocks at 11,602 mil bu, soybean 3,129 and wheat 1,421.
  • Trade estimates US 2021/22 corn carryout at 1,472 mil bu, soybean 348 and wheat 608.
  • Trade estimates US 2022 winter wheat acres at 34.2 million vs 33.6 ly. HRW 24.0 VS 23.5. SRW 6.5 vs 6.6.

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)
01-10-2022 Board Settle Price: $5.9975

2022-crop

(December 2022 Futures)
01-10-2022 Board Settle Price: $5.5700

2021-crop

(January 2022 Futures)
01-10-2022 Board Settle Price: $13.7475

2022-crop

(November 2022 Futures)
01-10-2022 Board Settle Price: $13.0050

Chicago Wheat 2022-crop

(July 2022 Futures)
01-10-2022 Board Settle Price: $7.6025

Chicago Wheat 2023-crop

(July 2023 Futures)
01-10-2022 Board Settle Price: $7.3475

KC Wheat 2022-crop

(July 2022 Futures)
01-10-2022 Board Settle Price: $7.7800

KC Wheat 2023-crop

(July 2023 Futures)
01-10-2022 Board Settle Price: $7.4550

MPLS Wheat 2022-crop

(December 2022 Futures)
01-10-2022 Board Settle Price: $8.7175

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.