Futures Up Ahead of USDA Report


Grains are higher. SF is up 5 cents and near 13.00. SMF is near 407.5. BOF is near 50.05. CH is up 1 cent and near 4.85. WH is up 7 cents and near 6.40. KWH is up 3 cents and near 6.59. MWH is up 5 cents and near 7.35. US stocks are lower. US Dollar is lower. Crude is higher but tested $69 overnight. Gold is higher.

SF dropped below 13.00 support. Weekly US soybean export sales are est near 1,000-1,800 mt vs 1,895 last week. Dalian soybean, palmoil and soyoil futures were lower. China Nov soybean imports were 7.85 mmt. Dec-Nov was 102.4 mmt. China Oct-Nov 13.1 mmt and up 13 pct vs ly. Dec imports are expected record high. Higher imports are at a time when crush margins are negative and Moody downgrade. Private estimates Brazil soybean crop near 155 mmt vs CONAB 162.8 and USDA 163. Soyoil futuers lower with funds adding to short position. Canada canola futures lowest level since last May.

Large Grain Silo

CH is near 4.85. Talk of higher US and Ukraine supply weighed on futures. CONAB est Brazil corn crop at 119 mmt down 10 mmt vs USDA 129. Brazil export supply is on the decline plus farmers are not selling corn until more is known about new crop size. US domestic corn use is up while export are down. Weekly US export sales are est near 725-1,500 mt vs 1,927 last week. Weekly ethanol production was up 6 pct vs last week. Stocks are down 8 pct vs ly.

Wheat futures are higher. WH tested 6.49. Could be some selling near 6.50. USDA announced another 327 mt of US SRW to China. This makes total SRW sales near 145 mil bu and equal to USDA goal. US SRW end stocks are on the decline. KWH only 19 above WH. US plains, Italy, Spain and N Africa are dry. Overnight strikes on Danube port adds uncertainty to Ukraine exports.


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