MORNING AG OUTLOOK
Grains are lower. Stocks are higher. US Dollar is higher. Crude is lower and near $75. Gold is higher.
SU is near 10.22. Dalian soybean and palmoil futures were higher. Soymeal and soyoil lower. USDA rated the US soybean crop 67 pct G/E, unch from last week and vs 52 ly. Higher ratings vs ly weighed on futures. Some est US yield now at 53.0 vs USDA 52 and 50.6 ly. First official USDA farmer survey is August. They could also lower planted acres NE G/E is 80, IA 76, IL 72, AR 71, MN 60 WI 60 and OH 63. Weekly US soybean exports were only 14 mil bu. Season to date exports are near 1,571 mil bu vs 1,856 ly. World soybean Sep-June exports were near 132.0 vs 127.7 ly. US is 42.5 vs 50.4 ly, Brazil 84,4 vs 75.0 ly. World Sep-June soybean meal exports were near 51.0 mmt vs 46.4 ly. US 11.9 vs 10.4 ly, Brazil 18.6 vs 18.0 ly. Argentina 18,6 vs 18.0 ly. US futures still searching for new new crop soybean sales.
CU is near 3.95. Dalian corn futures were higher. USDA rated the US corn crop 68 pct G/E, up 1 from last week and vs 55 ly. Higher ratings vs ly offers resistance to futures Some est US yield now at 182.5 vs USDA 181.0 and 177.3 ly. First official USDA farmer survey is August, They could also lower planted acres. NE G/E is 74, IA 77, IL 76, MN 58 WI 62 and OH 66. US farmer selling old crop stocks remain slow. Prices have dropped faster than farmers planned. New crop sales are also below average. Commercial demand for domestic ethanol use remains high with positive margins. Weekly US corn exports were 46 mil bu. Season to date exports are near 1,837 mil bu vs 1,371 ly. Managed futures see no reason to cover shorts.
WU is near 5.25. Managed funds were small net buyers on Wednesday, Wheat futures challenged by talk of lower Black Seas supplies and slight rally in Russia export prices and drop in French wheat quality and size versus slow import buyers demand and talk of slower World economy. US HRS sales to Italy suggest US HRS prices are competitive. Weekly US wheat exports were only 14 mil bu. Season to date exports are near 112 mil bu vs 100 ly. USDA est US winter wheat harvest at 82 pct, KS 99, MI 90, WA 32, MT 22. USDA rated the US spring wheat crop at 74 pct G/E vs 77 last week and 42 ly. Weather is warm and dry. 94 pct of crop has headed. Canada needs a rain.
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
ADM & Industry News
Global Ag News for Feb 11.2025
February 11, 2025
Nat Gas Up As Winter Storm Crosses Plains, Midwest
February 11, 2025