Grains Mixed to Mostly Lower


March Madness. Grains are mixed to lower. SK is down 4 cents and near 11.79. SMK is near 339.2. BOK is near 46.29. CK is down 3 cents and near 4.36. WK is unch and near 5.37. KWK is down 5 cents and near 5.83. MWK is down 4 cents and near 6.58. US stocks are lower. US Dollar is lower. Crude is lower. China producer price index dopped for 17 straight month. US consumer prices index is Tuesday. Start of Ramadan could slow food demand.



SK is near 11.79. Bears feel USDA could increase carryout 30 mil bu due to lower exports. Some feel USDA may be too high in China imports. Late rally Friday in soybeans, linked to talk Conad could drop Brazil crop closer to 147 vs USDA 155. Brazil soybean harvest is near 58 pct. BOK had an outside day but closed below Thursdays close. Most look for higher soyoil prices led by higher World biofuel demand. Managed funds have a record soybean short. SK now between 11.62 support and 12.07 resistance.

CK is near 4.36. Resistance 4.43. Bears still feel USDA could increase carryout 100 mil bu due to lower exports. Conab crop est Tuesday. Threats of lower Brazil crop and uncertain US summer weather could begin to offset higher current US and Ukraine supply. Managed funds remain short for any US summer weather problem. CK now between 4.29 support and 4.48 resistance.

Wheat futures are mixed to lower. KWK is between 5.77 support and 6.03 resistance. MWK is near the 20 DMA. WK is finding resistance due to China cancelling open US SRW sales. Wheat rallies could be limited given higher Russia and EU supplies and lower prices. Some feel USDA may be to low in their estimate of Russia supply. Managed funds remain short US futures for any 2024 weather issue. Bears are still in control as long as World 2024 weather is normal.


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