Higher Wheat Futures on Weather


Grains are higher. SK is up 5 cents and near 11.66. SMK is near 345.7. BOK is near 45.41. CK is up 2 cents and near 4.42. WK is up 11 cents and near 5.81. KWK is up 11 cents and near 6.08. MWK is up 7 cents and near 6.63. Stocks are slightly higher. US Dollar is unch. Crude is higher. Gold, coffee, cocoa and cotton are lower.


Wheat fields


SK is near 11.66. SK resistance is near 11,75,  Season to date US soybean exports are down 18 pct vs ly and USDA est of a 12 pct drop. USDA est US soybean plantings near 8 pct vs 3 last week. AR 43, MO 16, IL 11, IA 8. Matif rapeseed prices are higher on EU freeze concern. One crop analyst est Brazil soybean crop at 147 mmt and Argentina 51. China import demand is slow. Dalian soybean futures were lower. Soymeal, palmoil and soyoil were higher.

CK is near 4.42. Better than expected weekly exports offered support. Season to date US corn exports are up 35 pct vs ly and USDA est of a up 26 pct. USDA est US corn plantings near 12 pct vs 6 last week. MO 47,IL 11, IA 13, MN 8, NE 6. US Midwest is expected to get rain this week. That could slow plantings. Drier next week. Matif corn futures are higher and near 5 month high. France plantings slowed due to rains. One crop analyst still est Brazil corn crop at 112 mmt and Argentina 50.

Wheat futures rallied sharply Monday and are higher overnight on concern about dryness across US south plains HRW crop area and S Russia. EU freeze forecast also rallied Matif wheat futures sharply. Season to date US wheat exports are down 8 pct vs ly and USDA est of a 4 pct drop. USDA dropped US winter wheat rating to 50 pct G/E vs 55 last week. KS dropped to 36 vs 43, OK 49 vs 60, IL improved to 84 vs 78. USDA est US spring wheat  plantings near 15 pct vs 7 last week. ND 7. Russia est wheat export at 53 mmt v s USDA 52 and 47.5 ly. WK resistance 5.88. KWK traded over 100 DMA. MWK resistance is near 6.77.



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