Market Signals Weekly Report

The following are comments and discussion items from the weekly conference call of the Market Signals Team.

Discussion Items:

• Rains in Argentina and snow in US south plains offered resistance to futures.
• China reopening helped energy and metal prices. USDA lowered China soybean imports
• Informa est US 2023 corn acres at 90.5 vs 88.6 ly, soybeans 88.0 vs 87.4 wheat 49.8 vs 45.7
• SH rallied after USDA Jan report from 14.93 to 15.48 only to fall back to 14.79
• CH rallied after USDA Jan report from 6.49 to 6.88 only to fall back to 6.61
• WH has dropped from a high near 7.60 to a low on Monday to 7.12.
• Weekly US corn exports were only 28 mil bu. Season to date exports are 453 vs 650 ly
• Weekly US soybean exports were 66 mil bu. Season to date is 1,253 vs 1,287 ly
• Weekly US wheat exports were 12 mil bu. Season to date is 469 vs 486 ly
• Some est Black Sea and South America could increase acres 15-18 million each
• Higher World corn, soybean and wheat acres could lower US export share further

Performance Charts

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