Market Signals Weekly Report
The following are comments and discussion items from the weekly conference call of the Market Signals Team.
Discussion Items:
- Wheat and corn futures continue to slide lower with soybean trading in a range
- US farmer is a reluctant seller. Cash strong. U of IL est US 2023 net farm income down to $84,000
- Some Fed Governors hawkish comments weighed on equities and energies.
- Some feel higher Dollar, higher interest rates and lower China demand could weigh on commodity prices
- First China report Covid deaths in 6 months and possible lockdown of 3 key cities weighed on commodity prices
- Supply chain challenges with high freight, labor needs, low river water levels and possible RR strike could drop basis
- January soybeans dropped from $14.64 to $14.06 only to rally to $14.36. Most est US 2022/23 near 280 vs USDA 220
- March corn futures had a wide range of $6.53-$6.77 after missile attack on Poland. Most est US 2022/23 near 1,250 vs USDA 1,182
- March Chicago wheat futures dropped from $8.62 to $8.04 on Ukraine export corridor extension. US south plains still dry
- CBOT grain futures will be closed Thursday for holiday. Friday will be half day. Have a safe and happy holiday.
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).
Corn
Soybeans
Wheat
2022-crop
2022-crop
2023-crop
2023-crop
Recommendations
Unsold
2022-crop
2022-crop
2023-crop
2023-crop
Recommendations
Unsold
Chicago Wheat 2022-crop
Chicago Wheat 2022-crop
Chicago Wheat 2023-crop
Chicago Wheat 2023-crop
KC Wheat 2022-crop
KC Wheat 2022-crop
KC Wheat 2023-crop
KC Wheat 2023-crop
MPLS Wheat 2022-crop
MPLS Wheat 2022-crop
MPLS Wheat 2023-crop
MPLS Wheat 2023-crop
Recommendations
Unsold
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.