The USDA’s April WASDE report was released yesterday.  The report was generally as expected.  The USDA may have signaled a big increase in new crop corn export demand in their executive summery.  Will not see new crop numbers until the May WASDE but this part of the report caught my eye and it is why we see new crop corn carryout at 1.7 to 1.8 billion bushels with 88mm acres and a 174 yield: “Major global trade changes for 2017/18 include lower projected corn exports for Brazil and Argentina, with reduced export competition from these countries expected to impact the first half of the 2018/19 marketing year in the United States.”

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

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