Grains Are Slightly Up



Grains are slightly higher. SH is up 1 cent and near 12.40. SMH is near 364.6. BOH is near 48.28. CH is up 2 cents and near 4.48. WH is up 6 cents and near 6.02. KWH is up 5 cents and near 6.22. MWH is up 3 cents and near 7.02. US stocks are higher. US Dollar is lower. Crude is higher. Gold is higher. China announced lower Bank Reserve requirements which adds liquidity to their equity market.



CH is near 4.48. CH-CK spread near -11. CN-CZ spread near -11. US domestic pipeline needs farmer selling. Matif corn futures are lower. Ukraine export prices near $174 vs US $204 and Argentina $207. Managed funds still net short 268,000 contracts with little new news. US corn carryout near 2,263 mil bu offers resistance. Could see US farmer selling closer to 4.60. Demand is a slow buyer near 4.40. South America weather mixed with talk of lower Brazil crop but better rains versus dry Argentina with crop size larger than last year. Dalian corn prices were higher.

SH is near 12.42. SH has rallied 40 cents from recent lows on short covering. Some of this due to questions about Brazil crop size and talk of China stimulus. Argentina remains dry. Farmer selling remains slow. There is talk of an Argentina labor strike which could offset higher 2024 supplies. Brazil soybean harvest is ahead last year with yields variable. Brazil soybean export prices are lower as harvest advances. Dalian soybean, soymeal and soyoil prices were higher. Palmoil lower.

WH is near 6.00. KWH is near 6.20. MWH is near 6.97. US is warming with rains confined in Delta and SE. Canada is dry. North Africa is dry. Russia wheat exports are below pace to reach USDA goal. Either exports will not reach USDA goal or Feb-June exports will need to be record high. Australia futures are lower. EU farmer not selling. Consumer not buying. Canada est 2024 crop near 33.3 mmt vs 31.9 ly.


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