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ADM's January 2022 commodities newsletter summarized the USDA January report as neutral for corn, positive for soybeans and negative for wheat. It noted March soymeal fell on better Argentina weather while March soyoil rose on biodiesel demand talk and higher palm oil prices, and that March Chicago wheat rebounded on Russia-Ukraine tensions.
Soymeal weakness reflects expected South American supply recovery, while soyoil strength tied to biodiesel demand and palm oil supports oilseed crush margins. Wheat's geopolitical premium adds upside risk for feed wheat substitution costs.
admis.comADMIS Research TeamJan 21, 2022Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
