Explore Special Offers & White Papers from ADMIS

Commodities Watching Virus Impact on Demand


Grains are mixed. SX is down 3 cents and near 13.59. SMZ is near 362.1. BOZ is near 61.58. CZ is up 3 cents and near 5.67. WZ is up 3 cents and near 7.52. KWZ is up 2 cents and near 7.31. MWZ is up 6 cents and near 9.14.

US stocks are mixed. US Dollar Is lower. Crude is higher. Financial markets waiting for US Fed minutes. Commodities watching virus impact on demand.

For the month to date wheat prices are up 29 3/4 in SRW, up 39 in HRW, up 16 1/2 in HRS; Corn is up 18 1/2; Soybeans up 6 3/4; Soymeal up $7.60; Soyoil down 1.59.

Next week, US Midwest will turn cooler/wetter. Russia dry. Brazil dry. Argentina dry. EU wet. Dalian soybean futures higher. Corn, soymeal, palmoil and soyoil lower. China soybean buying slow.

Pro Farmer est IN corn yield at 193 vs USDA 194 and 187 ly. NE 182 vs USDA 186 and 181 ly. Pro Farmer est IN soybean pod count 1,226 vs 1,297 ly. NE 1,239 vs 1,2,81 ly.

China zero Covid tolerance at ports slow unloads add to congestion. Record ocean freight slow demand.

China feed and crush margins remain negative which is slowing amount of soybean import buying. China demand for US corn low. US prices competitive to buyers. Looming US harvest negative.

Brazil farmer not selling corn.  North corn planting starting in dry weather.

Wheat futures lower. EU lower after rally linked to option expirations. Russia dry. CBT futures higher

Weekly US ethanol production should be near last week. Stocks a little higher.

Covid cases raising concern about food demand. Weekly US corn/wheat sales low. Soybean 1.0 mmt. SX support 13.50. Resistance 13.65. CZ support 5.56. Resistance 5.70. WZ support 7.20. Resistance 7.60

On Tuesday, Managed funds were net sellers of 11,000 contracts of SRW Wheat; 6,000 corn, 4,000 soybeans and 2,000 soyoil and bought 1,000 soymeal. We estimate Managed Money net long 28,000 SRW Wheat; long 267,000 Corn; net long 103,000 Soybeans; net long 29,000 lots of Soymeal, and; long 65,000 lots of soyoil.


Risk Warning: Investments in Equities, Contracts for Difference (CFDs) in any instrument, Futures, Options, Derivatives and Foreign Exchange can fluctuate in value. Investors should therefore be aware that they may not realise the initial amount invested and may incur additional liabilities. These investments may be subject to above average financial risk of loss. Investors should consider their financial circumstances, investment experience and if it is appropriate to invest. If necessary, seek independent financial advice.

ADM Investor Services International Limited, registered in England No. 2547805, is authorised and regulated by the Financial Conduct Authority [FRN 148474] and is a member of the London Stock Exchange. Registered office: 3rd Floor, The Minster Building, 21 Mincing Lane, London EC3R 7AG.                  

A subsidiary of Archer Daniels Midland Company.

© 2021 ADM Investor Services International Limited.

Futures and options trading involve significant risk of loss and may not be suitable for everyone.  Therefore, carefully consider whether such trading is suitable for you in light of your financial condition.  The information and comments contained herein is provided by ADMIS and in no way should be construed to be information provided by ADM.  The author of this report did not have a financial interest in any of the contracts discussed in this report at the time the report was prepared.  The information provided is designed to assist in your analysis and evaluation of the futures and options markets.  However, any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to ADMIS. Copyright ADM Investor Services, Inc.

Latest News & Market Commentary

Explore Special Offers & White Papers from ADMIS

Get Started