Explore Special Offers & White Papers from ADMIS

Grain Market Mostly Lower Overnight


Grains are lower. US stocks are lower. US Dollar is lower. Crude is lower. US has drawn down SPR to 1983 lows which adds volatility to energy prices.

Soybean futures are lower. Some feel soybean, soymeal and soyoil longs are liquidating positions before next weeks USDA report. Trade est US soybean yield near 50.2 vs 50.9 in August and a range of 49.6-51.0.  US 2023/24 soybean carryout is estimated near 207 mil bu vs USDA August 245. Dalian soybean , soymeal and soyoil futures are lower. Soymeal is the lowest since July. Palmoil is at one month low. Argentina estimated 2024 soybean crop at 50 mmt vs 21 ly and USDA 48. Weekly Soybean export sales are est near 1,400-2,000 mt.

Corn futures are slightly lower. US and EU corn harvest is starting which limits fund buying. Brazil corn exports are supported by low US Miss river logistics and slow Ukraine exports. Argentina estimated 2024 corn crop at 55 mmt vs 34 ly and USDA 54. Trade est US corn yield near 173.5 vs 175.1 in August and a range of 171.5-175.0. A 173.5 yield could still be above demand and offers resistance to futures. Weekly US ethanol production was up 2 pct from ly. Stocks were down 6 pct vs ly. Trade will watch China import needs. Weekly corn export sales are est near 400-1,000 mt.

Wheat futures are lower. US south plains could see rains. Matif wheat futures are lower due to record Russia monthly wheat exports vs lower US and EU. Trade est World wheat carryout near 264.4 mmt vs 265.6 in August. Range 260-266. Trend is lower in World wheat supply. Argentina est 2024 wheat crop near 16.5 mmt vs 12.1 ly and USDA 17.5. Weekly wheat export sales are est near 250-600 mt.


Interested in more futures markets?  Explore our Market Dashboards here.

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