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Follow Through Technical Selling


Grains are mixed. SX is down 7 cents and near 12.95. SMZ is near 419.8. BOZ is near 53.82. CZ is unch and near 4.95. WZ is unch and near 5.86. KWZ is up 1 cents and near 6.71. MWZ is up 7 cents and near 7.37. US stocks are lower. US Dollar is lower. Crude is unch and near $88.

Soybean futures are lower. There is some follow through technical selling from Friday. North Brazil forecast is dry. Continued dry Brazil weather could push SX eventually higher. Argentina received needed rains. US soybean harvest is est near 74-77 pct. Some fear trade disruption due to Middle East and Ukraine tension. N Brazil dryness may slow their exports. Key remains China demand for US soybean and Brazil weather.

Corn futures are unchanged. Unconfirmed rumors of China interest in US PNW corn pushed CZ closer to 5.00.  US corn export commit and Ethanol use is higher  vs ly.  Increase difficult logistics in Brazil could create some short term window of opportunity for improvement in US export demand. Dry Brazil and higher US exports could push CZ above 5.10. US farmer is trying to store 2023 crop but could be running out of space in the east.

Wheat futures are mixed. There are unconfirmed rumors of China interest in US SRW wheat. Combined Argentina and Australia crops could be down 8 mmt vs ly. Russia continues to offer wheat for export at below $230 without buyers. Managed funds remain short 104,000 Chicago wheat contracts. Demand for higher World wheat protein demand offered support to MWZ.


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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.

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