The WASDE was bearish for corn and wheat while confirming a massive carryout of soybeans.  Corn yields came in at 181.3 and soybeans were 52.8.  Global wheat stocks increased as the USDA increased Russian wheat production instead of lowering it.

Going forward corn will most likely be range bound between $3.40 and $3.70 in December.  Wheat needs to catch a bid on the export market or the market will continue to grind lower.  HRW wheat should be the most competitively priced wheat for HiPro but we still need someone to come in and buy it.  For soybeans the market should be range bound between $8.00 and $8.80 until more is known about US/Chinese trade relations and the South American weather.

Once this report is digested I think we go to a range bound market for corn for the rest of 2018.  Only a Chinese trade deal or widespread planting delays in South America could cause a major rally for soybeans.  Wheat could rally but now that US wheat is competitive on the global market we need to make export sales.  If we don’t see any pick up in exports then we grind lower.

If you are having trouble listening to the podcast, then please click here for Turner’s Take Podcast episodes!

While the podcast does not have specific actionable trading recommendations, we do publish them in Turner’s Take Market Alert for spec traders and Turner’s Take Ag Marketing for hedgers.  Want to know what to look for in the commodity futures markets?  Take a listen to Turner’s Take podcast!

 

Craig Turner – Commodity Futures Broker

Turner’s Take Ag Marketing http://www.turnerstakeag.com

Turner’s Take Spec http://www.turnerstake.com

312-706-7610

Twitter: @Turners_Take

 

 

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The WASDE was bearish for corn and wheat while confirming a massive carryout of soybeans.  Corn yields came in at 181.3 and soybeans were 52.8.  Global wheat stocks increased as the USDA increased Russian wheat production instead of lowering it.

Going forward corn will most likely be range bound between $3.40 and $3.70 in December.  Wheat needs to catch a bid on the export market or the market will continue to grind lower.  HRW wheat should be the most competitively priced wheat for HiPro but we still need someone to come in and buy it.  For soybeans the market should be range bound between $8.00 and $8.80 until more is known about US/Chinese trade relations and the South American weather.

Once this report is digested I think we go to a range bound market for corn for the rest of 2018.  Only a Chinese trade deal or widespread planting delays in South America could cause a major rally for soybeans.  Wheat could rally but now that US wheat is competitive on the global market we need to make export sales.  If we don’t see any pick up in exports then we grind lower.

If you are having trouble listening to the podcast, then please click here for Turner’s Take Podcast episodes!

While the podcast does not have specific actionable trading recommendations, we do publish them in Turner’s Take Market Alert for spec traders and Turner’s Take Ag Marketing for hedgers.  Want to know what to look for in the commodity futures markets?  Take a listen to Turner’s Take podcast!

 

Craig Turner – Commodity Futures Broker

Turner’s Take Ag Marketing http://www.turnerstakeag.com

Turner’s Take Spec http://www.turnerstake.com

312-706-7610

Twitter: @Turners_Take

 

 

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The markets are quiet as we start September.  Corn and Soybean remains range bound while Wheat grinds lower due to lack of bullish news.  The WASDE is next week and that has the potential to get the grain and oilseed markets moving again.

The markets are quiet as we start September.  Corn and Soybean remains range bound while Wheat grinds lower due to lack of bullish news.  The WASDE is next week and that has the potential to get the grain and oilseed markets moving again.

We expect cattle to be range bound while hogs are bearish in the near months but bullish in the deferred months with Swine Flu hitting China.  Crude spreads tend to turn bullish this time and year while natural gas spreads tend to turn bearish.

We see opportunity in the grain markets (corn and wheat) but we are concerned for soybeans.  A large crop on record acres and no Chinese demand makes for poor pricing opportunities.

If you are having trouble listening to the podcast, then please click here for Turner’s Take Podcast episodes!

While the podcast does not have specific actionable trading recommendations, we do publish them in Turner’s Take Market Alert for spec traders and Turner’s Take Ag Marketing for hedgers.  Want to know what to look for in the commodity futures markets?  Take a listen to Turner’s Take podcast!

 

Craig Turner – Commodity Futures Broker

Turner’s Take Ag Marketing http://www.turnerstakeag.com

Turner’s Take Spec http://www.turnerstake.com

312-706-7610

Twitter: @Turners_Take

 

 

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Grains are higher as First Notice Day passes for the September contracts.  Corn, wheat and soybeans are all higher and we are turning more positive on corn, wheat, hogs, and crude.  We are still concerned about soybean prices.  Take a listen to the podcast for where we see prices going and why.  We also include the charts we will writing about in our newsletters next week.

If you are having trouble listening to the podcast, then please click here for Turner’s Take Podcast episodes!

While the podcast does not have specific actionable trading recommendations, we do publish them in Turner’s Take Market Alert for spec traders and Turner’s Take Ag Marketing for hedgers.  Want to know what to look for in the commodity futures markets?  Take a listen to Turner’s Take podcast!

NOVEMBER SOYBEANS

DEC CORN

DEC SRW WHEAT

DEC/JULY SRW WHEAT

FEB/APRIL LEAN HOGS

DEC/MARCH CRUDE OIL

Craig Turner – Commodity Futures Broker

Turner’s Take Ag Marketing http://www.turnerstakeag.com

Turner’s Take Spec http://www.turnerstake.com

312-706-7610

Twitter: @Turners_Take

 

 

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Grains are higher as First Notice Day passes for the September contracts.  Corn, wheat and soybeans are all higher and we are turning more positive on corn, wheat, hogs, and crude.  We are still concerned about soybean prices.  Take a listen to the podcast for where we see prices going and why.  We also include the charts we will writing about in our newsletters next week.

If you are having trouble listening to the podcast, then please click here for Turner’s Take Podcast episodes!

While the podcast does not have specific actionable trading recommendations, we do publish them in Turner’s Take Market Alert for spec traders and Turner’s Take Ag Marketing for hedgers.  Want to know what to look for in the commodity futures markets?  Take a listen to Turner’s Take podcast!

NOVEMBER SOYBEANS

DEC CORN

DEC SRW WHEAT

DEC/JULY SRW WHEAT

FEB/APRIL LEAN HOGS

DEC/MARCH CRUDE OIL

Craig Turner – Commodity Futures Broker

Turner’s Take Ag Marketing http://www.turnerstakeag.com

Turner’s Take Spec http://www.turnerstake.com

312-706-7610

Twitter: @Turners_Take

 

 

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Corn and soybeans continue to sell off as we approach first notice day.  Farmers will be selling corn as they deal the end of basis contracts and storage periods.  We see corn being pressured lower into the end of the week.  We see corn prices stabilizing starting in September.  Low prices are expected to attract demand and once the large crop is priced in and farmers liquidate old crop we should see better days ahead for corn next month.

US corn is the cheapest feed grain on the global export markets.  A deal between the US and Mexico that will replace NAFTA has been agreed upon and that will support corn as well.  Farmers are unlikely to make additional cash sales once August 31st passes.

Soybeans are a different story.  The large crop could see soybean ending stocks reach 800mm bushels.  Without a deal with China for exports we could see soybeans trade sub $8.00.  Cash will be sub $7.00.  The soybean market could have some real issues without Chinese demand.  Even if the US went from 90mm to 85mm acres next year that only puts ending stocks at 500-600mm in 2019.  If you have only 85mm acres next year AND China comes back to our export market, only then are ending stocks closer to the 300-400mm range.

Wheat is stabilizing in Europe and we are seeing cash sales come back to the global market.  Egypt is buying Black Sea wheat and that has stopped the selling for the most part.  We expect US wheat to see more export interest as we head into the fourth quarter of 2018.

If you are having trouble listening to the podcast, then please click here for Turner’s Take Podcast episodes!

While the podcast does not have specific actionable trading recommendations, we do publish them in Turner’s Take Market Alert for spec traders and Turner’s Take Ag Marketing for hedgers.  Want to know what to look for in the commodity futures markets?  Take a listen to Turner’s Take podcast!

Craig Turner – Commodity Futures Broker

Turner’s Take Ag Marketing http://www.turnerstakeag.com

Turner’s Take Spec http://www.turnerstake.com

312-706-7610

Twitter: @Turners_Take

 

 

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Corn and soybeans continue to sell off as we approach first notice day.  Farmers will be selling corn as they deal the end of basis contracts and storage periods.  We see corn being pressured lower into the end of the week.  We see corn prices stabilizing starting in September.  Low prices are expected to attract demand and once the large crop is priced in and farmers liquidate old crop we should see better days ahead for corn next month.

US corn is the cheapest feed grain on the global export markets.  A deal between the US and Mexico that will replace NAFTA has been agreed upon and that will support corn as well.  Farmers are unlikely to make additional cash sales once August 31st passes.

Soybeans are a different story.  The large crop could see soybean ending stocks reach 800mm bushels.  Without a deal with China for exports we could see soybeans trade sub $8.00.  Cash will be sub $7.00.  The soybean market could have some real issues without Chinese demand.  Even if the US went from 90mm to 85mm acres next year that only puts ending stocks at 500-600mm in 2019.  If you have only 85mm acres next year AND China comes back to our export market, only then are ending stocks closer to the 300-400mm range.

Wheat is stabilizing in Europe and we are seeing cash sales come back to the global market.  Egypt is buying Black Sea wheat and that has stopped the selling for the most part.  We expect US wheat to see more export interest as we head into the fourth quarter of 2018.

If you are having trouble listening to the podcast, then please click here for Turner’s Take Podcast episodes!

While the podcast does not have specific actionable trading recommendations, we do publish them in Turner’s Take Market Alert for spec traders and Turner’s Take Ag Marketing for hedgers.  Want to know what to look for in the commodity futures markets?  Take a listen to Turner’s Take podcast!

Craig Turner – Commodity Futures Broker

Turner’s Take Ag Marketing http://www.turnerstakeag.com

Turner’s Take Spec http://www.turnerstake.com

312-706-7610

Twitter: @Turners_Take

 

 

Try Turner’s Take Ag Marketing – for 30 Days

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ProFarmer confirmed big crops this week as corn was down 20 cents and soybeans does 50 cents from last weeks highs.  ProFarmer pegged the national corn yield at 177.3 bpa and soybeans at 53.0 bpa.  Next week we will see how much old crop needs to be priced and moved before the Sept futures first notice day.  In years past this has caused selling into the end of the month.  We expect corn to make seasonal lows into FND.  Soybeans are another story.  Included in the this post are the Supply and Demand table scenarios we talk about on the podcast.  As you can see, things do not look great for soybeans.  In this podcast we go over our strategies for corn this fall but we don’t make specific trade recommendations.  We only publish those in our newsletters per industry regulations.

If you are having trouble listening to the podcast, then please click here for Turner’s Take Podcast episodes!

While the podcast does not have specific actionable trading recommendations, we do publish them in Turner’s Take Market Alert for spec traders and Turner’s Take Ag Marketing for hedgers.  Want to know what to look for in the commodity futures markets?  Take a listen to Turner’s Take podcast!

Craig Turner – Commodity Futures Broker

Turner’s Take Ag Marketing http://www.turnerstakeag.com

Turner’s Take Spec http://www.turnerstake.com

312-706-7610

Twitter: @Turners_Take

 

 

Try Turner’s Take Ag Marketing – for 30 Days

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ProFarmer confirmed big crops this week as corn was down 20 cents and soybeans does 50 cents from last weeks highs.  ProFarmer pegged the national corn yield at 177.3 bpa and soybeans at 53.0 bpa.  Next week we will see how much old crop needs to be priced and moved before the Sept futures first notice day.  In years past this has caused selling into the end of the month.  We expect corn to make seasonal lows into FND.  Soybeans are another story.  Included in the this post are the Supply and Demand table scenarios we talk about on the podcast.  As you can see, things do not look great for soybeans.  In this podcast we go over our strategies for corn this fall but we don’t make specific trade recommendations.  We only publish those in our newsletters per industry regulations.

If you are having trouble listening to the podcast, then please click here for Turner’s Take Podcast episodes!

While the podcast does not have specific actionable trading recommendations, we do publish them in Turner’s Take Market Alert for spec traders and Turner’s Take Ag Marketing for hedgers.  Want to know what to look for in the commodity futures markets?  Take a listen to Turner’s Take podcast!

Craig Turner – Commodity Futures Broker

Turner’s Take Ag Marketing http://www.turnerstakeag.com

Turner’s Take Spec http://www.turnerstake.com

312-706-7610

Twitter: @Turners_Take

 

 

Try Turner’s Take Ag Marketing – for 30 Days

Turner’s Take Ag Marketing – Trial –

Turner’s Take Ag Marketing – includes access to premium web content.

Turner’s Take Ag Marketing – includes an email newsletter subscription.

Turner’s Take Ag Marketing – trial lasts 30 days.

Try Turner’s Take Ag Marketing – for 30 Days

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