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Market Signals Weekly Update Posted on 12-05-2022

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 tight US supplies
  • US farmer is a reluctant seller. Prices especially 2023 corn, soybean and wheat are lower and should trend lower.
  • China relaxing covid policy offered support to commodities and equites. Higher US wages offered resistance.
  • March soybeans rallied to 14.84, dropped to 14.31 then rallied to 14.58. Most est US 2022/23 near 280 vs USDA 220
  • March corn futures dropped from 6.72 to 6.37 with slow exports. Most est US 2022/23 near 1,250 vs USDA 1,182
  • March Chicago wheat futures dropped from 7.99 to 7.34 on lower Russian export prices. US south plains still dry
  • NOAA suggested that La Nina could weaken early in 2023. This could help US 2023 crop/weather
  • Daily trade volume in grains continues to drop on concern over lower US export share of global trade.

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).


2022-crop

(March 2023 Futures)
12-05-2022 Board Settle Price: $6.4050

2023-crop

(December 2023 Futures)
12-05-2022 Board Settle Price: $5.9525

2022-crop

(January 2023 Futures)
12-05-2022 Board Settle Price: $14.3775

2023-crop

(November 2023 Futures)
12-05-2022 Board Settle Price: $13.7675

Chicago Wheat 2022-crop

(March 2023 Futures)
12-05-2022 Board Settle Price: $7.3900

Chicago Wheat 2023-crop

(July 2023 Futures)
12-05-2022 Board Settle Price: $7.5700

KC Wheat 2022-crop

(March 2023 Futures)
12-05-2022 Board Settle Price: $8.4175

KC Wheat 2023-crop

(July 2023 Futures)
12-05-2022 Board Settle Price: $8.3375

MPLS Wheat 2022-crop

(March 2023 Futures)
12-05-2022 Board Settle Price: $9.0200

MPLS Wheat 2023-crop

(December 2023 Futures)
12-05-2022 Board Settle Price: $8.9550

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.