Market Signals Weekly Report
The following are comments and discussion items from the weekly conference call of the Market Signals Team.
- Volatility in most commodities continues due to talk of continued Ukraine war, drop in China demand due to covid and US Fed raising interest rates. This week’s USDA report will add to price volatility.
- Last week, July soybean futures traded from high near $16.88 to today’s low near $15.78. This due concern demand could slow due to lower economies.
- Soybean and corn futures are becoming oversold and below key Moving average price levels.
- Last week, July corn futures rallied from a high near $8.13 to a low today near $7.69. Drier US Midwest planting weather offered resistance.
- Last week, July Chicago wheat futures traded from a low near $10.34 to a high today near $11.35. Drier US south plains and EU weather and wet US north plains and Canada weather offered support.
- Trade estimates US corn plantings near 25 pct vs 14 last week, soybeans 16 vs 8, spring wheat 28 vs 19, WW crop is est to be rated 28 pct G/E vs 27 lw.
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 2022-crop
Chicago Wheat 2023-crop
KC Wheat 2022-crop
KC Wheat 2023-crop
MPLS Wheat 2022-crop
MPLS Wheat 2023-crop
ADM is providing this communication for informational purposes, and it is not a solicitation or offer to purchase or sell commodities. The sources for the information in this communication are believed to be reliable, but ADM does not warrant the accuracy of the information. The information in this communication is subject to change without notice. If applicable, any information and/or 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. ADM or its affiliates may hold or take positions for their own accounts that are different from the positions recommended in this communication.