Play Turner’s Take Podcast Episode 219

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New Podcast

In this podcast we go over the rise in the US dollar, treasuries, and the stock market.  We also talk about the rebound in energy prices.  Finally we look at today’s Ag Forum announcements for estimated acres and new crop price estimates .  Make sure you take a listen to the latest Turner’s Take Podcast!

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Ag Forum

Corn acres are estimated to be 94mm and soybeans 85mm.  New crop all-wheat seedings are estimated at 45mm. With fairly normal weather we should have a large soybean crop and an even larger corn crop.  Ag Secretary Purdue spoke at the event but was unable to provide details on expected Chinese demand.  Phase One is expected to elevate US export demand from China.

We see the Ag markets continuing to trade in range.  Corn and wheat have a bias lower while soybeans have more upside potential.  Based on current field conditions and a forecast for a wetter spring, we could see a modest rally in the next couple of months.  I like buying old crop on the dips and looking for short term nickel and dime gains.  I like selling new crop on the rallies for longer term trades and hedges.

Anyone who has PowerPoint can see USDA Chief Economist Robert Johansson’s presentation by clicking here.  Expected average prices and estimated acreage are in the tables below.

If you are not a subscriber to Turner’s Take Newsletter then text the message TURNER to number 33-777.  You will receive the newsletter and podcast notifications for free!

About Turner’s Take Podcast and Newsletter

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

Craig Turner – Commodity Futures Broker

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

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Twitter: @Turners_Take

Contact Craig Turner

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Turner’s Take Newsletter & Podcast – Turner’s Take is a complimentary weekly market commentary newsletter that covers the Grain, Livestock and Energy futures spread markets using fundamental, technical and seasonal analysis.

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