Explore Special Offers & White Papers from ADMIS

Wkly Ethanol Production Up

MORNING AG OUTLOOK

Grains are higher. SH is up 10 cents and near 12.46. SMH is near 366.9. BOH is near 48.80. CH is up 1 cent and near 4.60. WH is up 3 cents and near 6.14. KWH is up 4 cents and near 6.28. MWH is up 3 cents and near 7.10. US stocks are higher. US Dollar is higher. Crude is higher. Gold is higher. Coffee, cocoa, sugar, cotton and meats are higher. All in front of US CPI inflation data. Market est 3.2 pct yoy vs 3.1 last month. Lower percent could offer dovish outlook for Fed, increase chance for lower rates and push US Dollar lower.

unloading corn

CH is near 4.60. Trade est US weekly export sales at 400-1,000 mt vs 367 last week. Weekly US ethanol production was up 12 pct vs ly. Stocks were highest since April, 2023. Margins remain negative. Trade est US 2023/24 carryout at 2,105 vs 2,131 in Dec. Average trade est for Brazil corn is 125 mmt vs USDA 129, CONAB est Brazil crop at 117.6. Trade est Argentina at 54.8 mmt vs 34 ly. Rosario GE est Argentina crop at 59 mmt. Trade est Dec 1 US corn stocks at 12,050 mil bu vs 10,813 ly.

SH is near 12.46. Weekly US soybean export sales are est at 300-900 mt vs 201 last week. Trade est US 2023/24 carryout at 243 vs 245 in Dec. Trade est Brazil soybean crop at 156.2 mmt vs USDA 161. CONAB est the crop at 155.0. Trade est Argentina crop at 48.8 vs 25 ly. Rosario GE est the crop at 52.0. Trade est Dec 1 US soybean stocks at 2,975 mil bu vs 3,021 ly. Dalian soybean and soymeal were lower. Palmoil and soyoil were higher.

WH is near 6.14. Trade est US weekly export sales at 200-450 mt vs 131 last week. US, EU and Black Sea temps turn colder. Few concerned about winterkill. Trade est US 2024 winter wheat acres at 35.8 mil bu vs 36.7 ly. Trade est Dec 1 US wheat stocks at 1,387 mil bu vs 1,312 ly.

 

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