Skip to main content
Market Signals Weekly Update Posted on 11-20-2023

Market Signals Weekly Report

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

Discussion Items:

  • MS recommends selling 10 pct 2022 corn supplies at Dec 23 closing price.
  • Managed funds are net long 68,000 soybean, 108,000 soymeal and short 7,000 soyoil contracts.
  • Managed funds are net short 169,000 corn and short 99,000 wheat.
  • SF4 traded from $13.98 down to $13.27 but rallied to $13.68 on tight US supplies.
  • CZ4 rallied from $4.76 to $4.96 on Brazil weather worries then dropped to $4.82 on low US exports.
  • WZ3 dropped from $6.08 to $5.67 on higher Russia supplies and lower prices.
  • US stocks are higher on talk of reduced chances of higher US rates.
  • US Dollar is lower on talk of higher US debt and fact rates may not go higher.
  • Crude is trying to bounce off recent lows on talk of even lower OPEC production.

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

(December 2023 Futures)
11-20-2023 Board Settle Price: $4.6950

2023-crop

(December 2023 Futures)
11-20-2023 Board Settle Price: $4.6950

2024-crop

(December 2024 Futures)
11-20-2023 Board Settle Price: $5.1250

2023-crop

(January 2024 Futures)
11-20-2023 Board Settle Price: $13.6725

2024-crop

(November 2024 Futures)
11-20-2023 Board Settle Price: $13.0475

Chicago Wheat 2023-crop

(December 2023 Futures)
11-20-2023 Board Settle Price: $5.4350

Chicago Wheat 2024-crop

(July 2024 Futures)
11-20-2023 Board Settle Price: $6.0000

KC Wheat 2023-crop

(December 2023 Futures)
11-20-2023 Board Settle Price: $6.1050

KC Wheat 2024-crop

(July 2024 Futures)
11-20-2023 Board Settle Price: $6.3275

MPLS Wheat 2023-crop

(December 2023 Futures)
11-20-2023 Board Settle Price: $7.0725

MPLS Wheat 2024-crop

(December 2024 Futures)
11-20-2023 Board Settle Price: $7.6050

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.