What a Week. Grains Are Mixed.
What a week. Grains are mixed. SX is up 4 cents and near 12.87. SMZ is near 339.1. BOZ is near 59.32. CZ is down 3 cents near 5.21. WZ is down 3 cents and near 7.13. KWZ is down 3 cents and near 7.06. MWZ is up 1 cent and near 9.01.
US stocks are higher. US Dollar is mixed. Trend has been lower. Crude is mixed. Trend has been higher. Gold and Copper trend is mostly sideways. Trade having problem deciding if risk is on or off.
Weekly US corn and soybean export sales were higher than expected. Wheat near estimates. Dalian corn, soybean, soymeal, palmoil and syoil futures were all trading higher.
Black Sea weather forecast suggest increase chance for showers. EU is dry. Brazil is dry. Argentina rains. US rains were in ND, SD, NE, IA, MN and KS. 8-14 day dry, Great Lakes rains; warm west cool east.
This week, Farm futures est US 2022 corn acres at 94.3, soybeans 90.8 and all wheat 49.7. USDA next crop report is Sep 10.
USDA est 2021 net farm income up 19 pct to 8 year high due to higher crop prices. Feb est 8 pct drop. Previous Feb est of lower income due to drop in government payments and higher production cost. USDA estimates total farmer 2021 cost of production was up 7 pct to a record $383.5 billion.
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.