Market Signals Weekly Report

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

Discussion Items:

• SK3 dropped from to $14.97 to $14.05 on risk off due to concerns over US banking system.
• CK3 rallied from $6.23 to $6.48 on talk of increase demand for US corn exports.
• WK3 dropped from $7.08 to $6.84 on low Russia prices then rallied to $7.06 on fund short covering.
• Managed funds are estimated to be long only 87,000 soybeans, short 38,000 corn and 81,000 wheat.
• Trade estimates US 2023 corn acres near 90.9 mil vs 88.6 ly and 2023/24 carryout at 2,053.
• Trade estimates US 2023 soybean acres near 88.3 vs 87.4 ly and 2023/24 carryout at 355.
• Trade estimates US 2023 wheat acres near 48.9 vs 45.7 ly and 2023/24 carryout at 655.
• Talk of US Central Bank slowing interest rate increases helped stocks and weighed on US Dollar.
• Most US farmers still looking for $14.00 new crop beans, $6.25 new crop corn and $9.00 new crop KC wheat.

Performance Charts

Now you can review the price and performance history of the Market Signals group back to 2011.
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All price recommendations below are futures price references (not cash equivalents).