Market Signals Weekly Report

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

Discussion Items:

• Corn, soybean wheat futures dropped on concern about China demand, US and China relations and one cargo of Ukraine corn shipped.
• Last week, September corn futures rallied from $5.66 to $6.32 on a US Midwest warm and dry forecast only to drop on demand worries.
• Trade estimate US 2021/22 corn carryout near 1,545 versus USDA 1,510 and 2022/23 near 1,655 vs USDA 1,470.
• Last week, September soybean futures traded from $13.56  to $15.16 on warm and dry forecast only to drop on China demand concerns.
• Trade estimate US 2021/22 soybean carryout near 235 versus USDA 215 and 2022/23 275 vs USDA 230.
• Last week, September Chicago wheat futures rallied from $7.60 to $8.45 before dropping to $8.00. Talk of Ukraine exports weighed on prices.
• US corn crop was rated 60 pct G/E , soybeans 58 pct G/E and spring wheat 67 pct G/E.. US WW harvest is est near 84 pct.

Performance Charts

Now you can review the price and performance history of the Market Signals group back to 2011.
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All price recommendations below are futures price references (not cash equivalents).