Explore Special Offers & White Papers from ADMIS

Ag Market View for Mar 22.22

SOYBEANS

Soybeans ended higher. USDA announced 240 mt of US 2021/22 soybeans were sold to unknown. SK ended near 16.96. Session high was 17.20. Tech buying lifted SK over 17.00. Trade still trying to figure out how World buyers will offset lower South America 2022 soybean supplies. China Oct-Feb soybean imports were near 36.5 mmt vs 39.2 ly. Palmoil imports were 2.1 mmt vs 3.2 ly. Sunoil imports were near 373 mt vs 931 last year. Informa estimated US 2022 soybean acres near 88.6 vs 87.8 previous estimate and 87.2 last year. They estimated US 2022 soybean crop at 4,565 mil bu versus 4,520 previous and 4,435 last year. One group suggested US farmers sell additional 2021 crop due to their feeling that 2022 US April weather could be normal.

Sunrise farmhouse

CORN

Corn futures ended mixed. CK ended near 7.53. Session high was near 7.61. CZ tested new high and near 6.70. Lack of new US export corn business may have triggered some bear spreading, selling May and buying July and Dec. Some feel that US 2022/23 corn exports could 2,950 mil bu and 2021/22 2,800 vs USDA 2,500. Trade still trying to figure out how World buyers will offset lower Ukraine 2022 corn exports and lower Ukraine 2023 crop. Ukraine Ag Minister warned that Ukraine may plant only 7 million hectares spring crops versus 15 initially expected. China Oct-Feb corn imports are near 8.1 mmt vs 9.4 ly. Sorghum imports were 3.6 mmt vs 2.7 ly. Barley imports were near 5.0 mt vs 4.7 last year. Informa estimated US 2022 corn acres near 91.4 vs 91.5 previous estimate and 93.4 last year. They estimated US 2022 corn crop at 14,980 mil bu versus 14,999 previous and 15,115 last year. Informa estimated US 2022 sorghum acres near 6.6 vs 7.3 last year. One group suggested US farmers sell additional 2021 crop due to their feeling that 2022 US April weather could be normal.

WHEAT

Volatility in wheat futures continues. WK ended near 11.18. Session high was 11.69. KWK ended near 11.19. Session high was 11.56. MWK ended near 10.95. Session high was 11.23. Trade still trying to figure out how World buyers will offset lower Black Sea 2022 wheat exports. Black Sea wheat export prices remain ill defined. EU wheat exports to date are running 5 mmt below USDA estimate. Iraq reported they only have 3 months’ worth of wheat supplies. China Oct-Feb wheat imports are near 4.3 mmt vs 4.7 ly. Informa estimated US 2022 wheat acres near 47.4 vs 48.1 previous estimate and 47.7 last year. Informa estimated US 2022 spring wheat acres near 11.3 vs 12.0 previous and 11.4 last year. They estimated US 2022 wheat crop at 1,962 mil bu versus 1,995 previous and 1,646 last year. One group suggested wheat futures could turn lower if US April south plains weather is normal.  

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