Explore Special Offers & White Papers from ADMIS

USDA Dropped Crop Ratings


Grains are mostly higher. SX is up 11 cents and near 13.76. SMZ is near 401.5. BOZ is near 62.39. CZ is up 1 cent and near 4.87. WZ is up 5 cents and near 6.04. KWZ is up 5 cents and near 7.29. MWZ is up 4 cents and near 7.66. US stocks are lower. US Dollar is lower. Crude is mixed but near $87. Gold, silver, copper, coffee and cotton are lower.

Soybean futures are higher. Midweek temps should turn cool with rains possible the weekend. USDA dropped US soybean crop ratings to 53 pct G/E from 58. C/N Brazil is dry. Heavy rains continues to S Brazil. N Argentina wet, S Argentina is dry. New Argentina soya peso plan has trigged some increase in farmer selling. US remains best source for meal. Competing oilseeds are cheaper than US soybeans. US soyoil has competition from Black Sea sunoil, South America soyoil and SE Asia palmoil. US soybean exports are 52.2 mmt or down 8 pct vs ly.

Corn futures are slightly higher. Russia does not appear to be willing to restart the Ukraine grain corridor deal. US corn harvest will start soon which limits fund buying. USDA dropped US crop ratings from 56 G/E to 53. US corn exports are 37.2 mmt or down 32 pct vs ly. Some feel CZ may be settling into a 4.75-5.00 range. They could also see a post harvest rally. Brazil corn exports are supported by low US Miss river logistics and slow Ukraine exports.

Wheat futures are higher. US south plains could see rains. Matif wheat futures are lower due to record Russia monthly wheat exports vs US and EU down 10-15 pct. US wheat exports are near 4.3 mmt or down 24 pct vs ly. Some feel WZ is consolidating near 6.00, KWZ 7.20 and MWZ near 7.60. USDA est spring wheat harvest is near 74 pct and US winter wheat planting is 1 pct vs 3 average.

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