Market Signals Weekly Report

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

Discussion Items:

• US grain futures dropped from May highs on favorable US weather and lower demand for US exports.
• On Monday, Grain prices rallied led by July corn and July soybeans due to early concerns about US weather.
• SN3 dropped from $14.00 to $13.04 following a bearish USDA report but rallied to $13.44 on short covering.
• CN3 dropped from $5.92 to $5.47 after USDA report then rallied to $5.75 on firm US domestic basis.
• WN3 dropped from $6.60 to $5.96 only to rally to $6.13 on global weather worries.
• KWN3 dropped from $8.98 to $8.07 on demand worries but bounced to $8.30 on new weather worries.
• Managed funds are estimated to be net short 130,000 Chicago wheat, 144,000 corn and 27,000 soyoil.
• Managed funds are estimated to be net long 21,000 soybeans and 49,000 soymeal.
• Last year this week Managed funds were net long 722,000 total grain and soycomplex futures.

Performance Charts

Now you can review the price and performance history of the Market Signals group back to 2011.
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