Grain Futures Mixed to Start
Grains are mixed. SU is up 5 cents and near 13.31. SX is up 2 cents and near 13.21. SMU is near 356.4. BOU is near 60.50. CU is down 1 cent and near 5.35. CZ is down 2 cents and near 5.21. WU is down 2 cents and near 6.16. KWU is up 1 cent and near 5.89. MWU is up 5 cents and near 8.10. US stocks are higher. US Dollar is lower. Crude is higher. Gold and copper are higher.
For the week so far wheat prices are down 36 1/4 in SRW, down 29 1/2 in HRW, down 28 3/4 in HRS; Corn is down 57 3/4; Soybeans down 74 3/4; Soymeal down $2.78; Soyoil down 2.30.
For the month to date wheat prices are down 63 in SRW, down 69 1/4 in HRW, down 39 3/4 in HRS; Corn is down 66 1/2; Soybeans down 74 3/4; Soymeal down $21.40; Soyoil down 2.71.
Chinese Ag futures (SEP 21) Soybeans up 45 yuan ; Soymeal up 17; Soyoil up 68; Palm oil up 100; Corn down 3 — Malasyian Palm is up 116. Malaysian palm oil prices overnight were up 116 ringgit (+3.08%) at 3885 rebounding from three days of losses, as a weaker ringgit raised the appeal of the tropical oil in Malaysia while prices for the commodity traded in China headed for a third weekly advance.
Sep corn now below 20,50 and 100 day moving average, 5.46 resistance. Sep soybean also below 20, 50 and 100 day moving average. 13.50 resistance. Improved US central/east Midwest weather and slow export trade has weighed on prices. Sep Chicago wheat below 20, 50, 100 and 200 moving averages.
Lack of export trade, winter wheat harvest pressure offset lower HRS crop outlook. Key WOB report Monday. Trade afraid they will keep most key numbers unchanged from June.
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.