Explore Special Offers & White Papers from AFS

Higher AM Grains


Grains are higher. SH is up 14 cents and near 13.68. SMH is near 430.3. BOH is near 45.52. CH is up 9 cents and near 5.43. WH is up 5 cents and near 6.51. KWH is up 5 cents and near 6.31. US stocks are lower. US Dollar is higher.

For the month, SRW Wheat prices are up roughly 13 cents; HRW up 27; HRS up 26; Corn is up 58 cents; Soybeans up 57 cents; Soymeal up $1.00, and; Soyoil up 315 points. Crushing margins are down $0.21 at $0.79; Oil share is up 1% at 34%

Chinese Ag futures (May) settled up 6 yuan in soybeans, down 26 in Corn, down 22 in Soymeal, up 16 in Soyoil, and up 20 in Palm Oil. Malaysian palm oil prices were up 101 ringgit at 3,489 (basis April) on talk Indonesia hikes export tariffs.

All Wheat sales are up 6%, shipments down 1% with the USDA forecasting a 2% increase, Corn up 126%, shipments up 81% (USDA) up 43%, Soybeans up 83%, shipments up 80% (USDA up 33%) and Soymeal down 2%, shipments up 18% (USDA up 1%)

Argentina rated soybean crop 18 pct G/E vs 66 ly. Crop 46 mmt vs USDA 48. Farmer sales 6.6 mmt vs 13.2 ly. Argentina corn crop rated 22 G/E vs 59 ly. Farmer sales 14 mmt vs 18.7 ly. Farmer wheat sales 9.2 vs 15.4 ly. Brazil soybean vessel line up 9 mmt. 70 vessels waiting to load Russia wheat, Still no clear guess on final Russia wheat exports. Russia taxing wheat exports. Ukraine livestock groups want corn exports slowed. Argentina considering higher export tax on corn, wheat, soybean and soymeal. World vegoil demand higher than supply.

China appetite for corn and soybeans increasing.

On Thursday, Managed funds were net sellers of 8,000 SRW Wheat; bought 2,000 Corn; net sold 12,000 Soybeans; sold 6,000 lots of Soymeal, and; net bought 1,000 Soyoil. We estimate Managed Money net even in SRW Wheat; long 392,000 Corn; net long 146,000 Soybeans; net long 66,000 lots of Soymeal, and; long 107,000 Soyoil.

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 Special Offers & White Papers from Archer Financial Services

Get Started

Contact Us Today