Funds Cont To Cover Wheat Shorts


Grains are mixed. SK is down 2 cents and near 11.63. SMK is near 344.5. BOK is near 44.83. CK is up 1 cent and near 4.39. WK is up 9 cents and near 6.04. KWK is up 4 cents and near 6.29. MWK is up 5 cents and near 6.84. Stocks are lower. Meta down on increase AI expenses. US Dollar is lower. Crude is mixed at $82.67. Gold is mixed. Trade watching todays GDP and Friday personal income. Coffee and cocoa are higher. Sugar and cotton are lower. Cattle were lower.


windy wheat crops


SK is near 11.63. SN is near 11.78. Some feel US farmers should increase cash sales near 11.80 SK. Dalian soybean, were higher. Soymeal, palmoil and soyoil were lower. Weekly US soybean export sales are est near 300-600 mt vs 485 last week. Weekly US soymeal export sales are est near 100-400 mt vs 129 last week. US 2024 supply could be record weather permitting. South America soybean supply could be down due to weather. China demand though could also be lower.

CK is near 4.39. US farmers in fields before rains. Drier next week. US corn plantings could be near 20-25 pct. South America corn supply could be down due to Brazil weather and Argentina bug. US looking at large 2024 supplies but farmer not selling. Weekly US corn export sales are est near 400-900 mt vs 501 last week. There is adequate 2024 global corn supply versus uncertain US and Black Sea 2024 summer weather.

Funds continue to cover wheat shorts. WK over 6.00 and back into Oct,23 to Feb ,24 range of 6.00-6.50. US HRW and S Russia dry weather on focus. Some feel US farmers should increase cash sales near 6.35-6.40 WK. Weekly US wheat export sales are est near -100 to 100 mt vs -93 last week and 100-400 mt vs 222 last week. There is adequate 2024 global wheat supply versus uncertain US and Black Sea 2024 summer weather.



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 the latest edition of The Ghost in the Machine

Explore Now