Explore Special Offers & White Papers from AFS

Lower Dollar Offers Support to Beans


Grains are mixed. SK is down. CK is unch. WK is up. KWK is up. MWK is up. Stocks are higher. US Dollar is lower. Crude is sharply lower on talk of reduced Middle East tension. Metals are higher on talk US is considering sanctions against China steel and aluminum. Fed Chairman suggesting delays in rate cuts.


SK is remains near key support. Dalian soybean, soymeal, soyoil and palmoil prices were lower. Lower US Dollar offered support to soybean futures. Weekly US soybean export sales are est near 300-650 mt vs 305 last week. Some feel LH 2024 World soybean crush could be record high. Question is  – will there be enough product demand to equal the higher supply. One group estimated SX fall low near 10.60, SMZ 307 and BOZ near 46. They assume a record US crop 4,535 mil bu, total demand near 4,415 and carryout near 485.

CK is near 4.39. US domestic cash remains firm. Weekly US corn export sales are est near 300-900 mt vs 325 last week. There remains talk of lower Argentina corn crop due to disease. 40 pct of Brazil second corn crop is yet to pollinate with hot dry condition over next 5-7 days. One group estimated CZ fall low near 4.30.They assume a US crop 14,890 mil bu, total demand near 14,735 and carryout near 2,245.

WK is near 5.41. Weekly US old crop wheat export sales are est near -100 to 200 mt vs 80 last week. New crop 150-400 mt vs 274 last week. China March wheat imports were record. Still, total imports should be near 11.0 vs 13.2 last year. EU helped finance Iraq wheat crop irrigation. This could increase production and reduce imports. One group estimated WZ fall low near 5.40.They assume a US crop 1,885 mil bu, total demand near 1,950 and carryout near 755.



Interested in more futures markets?  Explore our Market Dashboards here.

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