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