Market Signals Weekly Report
The following are comments and discussion items from the weekly conference call of the Market Signals Team.
Discussion Items:
- Wheat futures continue to slide lower on low export demand. Soybeans supported by dry Argentina weather.
- US farmer is a reluctant seller. Argentina offered new soya peso deal which should increase farmer selling.
- Increase of China covid cases and lockdown weighed on commodity and equity prices.
- Supply chain challenges with labor needs, low river water levels and possible RR strike could drop basis.
- January soybeans rallied from $14.17 to outside day testing $14.61. Most est US 2022/23 near 280 vs USDA 220.
- March corn futures continues in a range of $6.59-$6.73 with export slow vs dry Argentina weather. Most est US 2022/23 near 1,250 vs USDA 1,182.
- March Chicago wheat futures dropped from $8.27 to $7.73 on lower Russian export prices. US south plains still dry.
- Daily trade volume in grains continues to drop on concern over lower US export share of global trade and higher US Dollar.
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
2023-crop
Recommendations
Unsold
2022-crop
2023-crop
Recommendations
Unsold
Chicago Wheat 2022-crop
Chicago Wheat 2023-crop
KC Wheat 2022-crop
KC Wheat 2023-crop
MPLS Wheat 2022-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.