Market Signals Weekly Report
The following are comments and discussion items from the weekly conference call of the Market Signals Team.
- Last week, soybean and soyoil futures traded higher. Soymeal and corn traded lower. KC wheat was sideways.
- Last week, Russia reopened the Ukraine export corridor but no word on if the deal will be extended after Nov 19.
- Ukraine, Arg and Brazil corn prices are below US. Argentina soybean, soymeal and soyoil prices are below US.
- China announced officially that their strict covid policy will continue. Commodities had rallied on rumors they might relax the policy.
- US midterm election Nov 8. Vote!!! USDA November report Nov 9.Trade is not looking for big changes to corn, soybean and wheat numbers.
- Last week, March corn futures traded down from $7.04 to $6.81. Concern about demand for US exports weighed on futures.
- Last week, January soybean futures rallied from $14.19 to $14.69. Increase China buying and higher soyoil prices offered support.
- Last week, March KC wheat futures traded down from $9.79 to $9.24 only to rally to $9.69 today.
- US south plains is dry. US Miss river water level record low. Brazil and Argentina weather is turning more normal.
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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