Steve Freed

VP of Grain Research for ADM Investor Services

Overseeing the analysis of all market information and trading strategies for over 1100 brokers. He creates daily short and long-term market outlooks, monthly grain PowerPoint presentation updates, daily market outlook video and an electronic statistical manual identifying changes in world supply and demand conditions. Steve’s market opinion is often quoted in newspapers and business journals around the world, and he is regularly a featured speaker at seminars and workshops.

Born and raised on a grain and livestock farm in central Illinois, Steve received a Bachelor of Science degree in Agriculture from Illinois State University. His career began as a crop analyst, then as a grain analyst creating trade recommendations based on international and domestic crop conditions. Before joining ADMIS in 1992, he was with Continental Grain Company and later held the position of Vice President of Futures Research at Dean Witter Reynolds. While there, he sharpened his ability to create trade recommendations based on crop conditions, seasonal trends and changes in cash inputs.

Long recognized as an industry expert, today Steve is one of the most respected and followed grain analysts in the nation.

Tel: +1 312 242 7000

AM Futures Commentary by Steve Freed

May 24, 2019      follow us on Twitter @TradeADMIS

Grains are higher.  SN is up 2 cents and near 8.24. CN is up 3 cents and near 3.94. WN is up 6 cents and near 4.76. Crude is higher. US stocks should open higher. 

For the week, Winter Wheat prices are up roughly 13 cents for Soft Red Winter, up 11 in the Hard Red Winter, and up 10 for Hard Red Spring; Corn is up 13 cents; Soybeans up 3; Soymeal up $3.00, and; Soyoil down 25 points (crushing margins are up roughly 3 cents at $1.27, oil-share is unchanged at 31%).

U.S. President Donald Trump on Thursday predicted a swift end to the ongoing trade war with China, although no high-level talks have been scheduled between the two countries since the last round of negotiations ended in Washington two weeks ago. 

The U.S. Midwest weather forecast had no major changes as the wet pattern looks to continue across much of the Midwest through the weekend and through next week. 

The Southern U.S. Plains has a wet pattern continuing through the weekend; next week looks quieter with some hit and miss rains before another system develops by the end of next week. 

The Northern U.S. Plains continues with a wet pattern through the holiday weekend but things look to turn quieter across the region next week---temps will be running below average. 

The U.S. Delta and the Southeast will see a drying trend during the next two weeks. 

The 11 to 16 Day Outlook has average to above average rainfall to continuing across much of the Plains and the Midwest but slightly less than what has been occurring.  

On Thursday, managed funds were net sellers 3, 000 contracts of SRW Wheat; net sold 20,000 Corn; sol6 7,000 contracts of Soybeans; net sold 2,000 lots of Soymeal, and; sold 4,000 Soyoil. We estimate managed funds are now net short 67,000 contracts of SRW Wheat; net short 149,000 Corn; net short 166,000 contracts of Soybeans; short 38,000 lots of Soymeal, and net short 81,000 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 Archer Daniels Midland Company.  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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