Explore Special Offers & White Papers from ADMIS

Grains Higher This AM

Grains are higher. SN is up 3 cents and near 8.76. CN is up 1 cents and near 3.32. WN is up 1 cent and near 4.84. Rumors of China buying a few cargoes of US soybeans and HRS offers support. Stocks are higher. US Dollar is lower. Crude is higher.

US 7 day weather suggest good rains in the Plains and west Midwest. Showers are also expected to t east. Temps moderate after the rains. This should be what crops need especially in the west Midwest. NOAA 90 day US Midwest forecast calls for above normal temps and above normal rains.

Soyoil futures are higher and following higher Asian prices. Some link higher Asia prices to talk of lower China and India supplies.

July soybean remains range bound. Uncertainty over China buying US soybeans and how much offers resistance. Favorable US Midwest 2 week forecast also offer resistance. Fact US is competitive to China and fact the numbers suggest the need to buy US soybeans offers support. SN is above to 100 day for first time since January. Funds are small net soybean long and large net soymeal short.

Most of the corn news is bearish. Favorable US Midwest 2 week weather forecast and fact South America corn prices are cheaper than US offers resistance.CN is above the 20 and 50 day moving average. Funds are large net short corn futures. 100 day moving average is near 3.46. Funds are large net short corn. US farmer remain a reluctant sellers of large old and new crop supplies.

Chicago and KC wheat futures are under seasonal pressure due to US harvest. HRS futures are firm on China rumors. EU farmer is not selling until more is known above crop size and quality. World trade remains slow on concern over importers economies.

On Thursday. Managed Money were net sellers of 4,000 SRW wheat, bought 1,000 corn, bought 2,000 soybeans, bought 1,000 soymeal and sold 1,000 soyoil. We estimate funds are net short 44,000 contracts of SRW Wheat; net short 290,000 Corn; net long 33,000 Soybeans; net short 52,000 lots of Soymeal, and; are net short 2,000 Soyoil.




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