Ag Market View for Dec 4
January soybeans closed 5 ¼ cents lower on the session and this left the market down 28 ¾ cents on the week. More talk of less acres of soybeans in South America under stress helped to trigger the early selling. A surge higher in Malaysia palm oil prices to 8 1/2 year highs helped to support the soybean oil market. If the forecast shifts drier into mid-December over the weekend, the market could see a resumption of the uptrend next week.
March corn is trading 6 cents lower on the session and this left the market with a loss of 13 ¼ cents for the week. Talk of less corn under stress in South America helped to pressure the market. The longer-term fundamentals still look supportive with US corn competitive on the world market and traders uncertain over the production prospects in South America. China demand remains strong for feedgrains and private exporters reported the sale of 182,020 tonnes of US corn to Mexico.
March wheat closed 9 cents lower on the session and down near the December 1st lows. The market was down 30 ½ cents for the week. While there continues to be active tender business on the world market, Black Sea region growers or India are getting recent sales, and Australia and Canada crops look to leave significant exportable surpluses for export in 2021.
Click here for full report
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.