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).