Explore Special Offers & White Papers from ADMIS

Soybeans & Corn Up, Wheat Down

MORNING OUTLOOK

Grains are mixed. SX is up 14 cents and near 13.06. SMZ is near 349.7. BOZ is near 58911. CZ is up 4 cents and near 5.39. WZ is down 5 cents and near 7.28. KWZ is down 4 cents and near 7.13. MWZ is down 3 cents and near 9.06. SX trying to find support near 13.00 and CZ at 5.40. Key WZ resistance near 7.50.

US stocks are higher. US Dollar is higher. Crude is higher.  Financial and energies waiting for US Central Bank policy comments and impact Delta virus could have on food and fuel demand. Some hope Delta spread may be peaking in US.

For the week so far wheat prices are up 4 in SRW, up 3 1/2 in HRW, up 6 1/2 in HRS; Corn is up 2 1/2; Soybeans up 18 1/4; Soymeal down $0.47; Soyoil up 2.47.

For the month to date wheat prices are up 18 3/4 in SRW, up 34 1/2 in HRW, up 17 3/4 in HRS; Corn is down 6; Soybeans down 41; Soymeal down $3.80; Soyoil down 3.96.

Chinese Ag futures (JAN 22) Soybeans up 88 yuan ; Soymeal down 14; Soyoil up 38; Palm oil up 78; Corn up 8 — Malasyian Palm is down 16. Malaysian palm oil prices overnight were down 16 ringgit (-0.37%) at 4300 amid signs of increasing production in Malaysia and concern about export demand.

Midwest corn, soybean and winter wheat forecasts: West: Isolated to scattered showers through Friday. Temperatures above normal through Friday. East: Isolated showers through Thursday. Scattered showers Friday. Temperatures above normal through Friday. 6 to 10 day outlook: Scattered showers Saturday-Wednesday. Temperatures above normal Saturday-Sunday, near to above normal Monday-Wednesday.

USDA lowered US corn crop rating to 60 pct G/E vs 62 last week and 64 last year. Best crops are in KY, MI, OH and WI. Crop rating dropped in IL, IN, MN, MO and NE. 4 pct of the crop is mature vs 4 average, IA 3, SD 6,MN 2 and ND 2. US spring wheat harvest  77 pct done vs 55 average

USDA lowered US soybean crop rating to 56 pct G/E vs 57 last week and 69 last year. Best crops are in AR, KY, LA, TN, MI, OH and WI. Crop rating dropped in IL, IN, MO and NE. 3 pct of crop is dropping leaves vs 1 average. ND 9, SD 14, NE 4, MN 3, AR 3.

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