Play Turner's Take Ag Marketing Podcast Episode 363

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Crude oil stocks drew down 17 million bushels in the latest inventory report his week, the largest on record.  OPEC+ is happy to keep supplies low and let crude trade over $80. The US does not have excess SPR to help lower oil prices, and in fact the US now needs to by crude to start replenishing emergency reserves.  US exports are strong with Asia and EU importing more now that OPEC is keeping their production cuts for the foreseeable futures.  The economy is getting better, a recession is off the table, the Fed can keep interest rates steady as inflation cools, and the S&P is not far from making new highs.  Corn is bearish on the balance sheets but soybeans are tight for at least six months and wheat is likely tight for at least another year.  There is a lot of opportunity in these markets for the rest of the year and well into 2024. . Make sure you take a listen to this week's Turner's Take Podcast!

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If you are having trouble listening to the podcast, please click here for Turner's Take Podcast episodes! Craig Turner - Commodity Futures Broker 312-706-7610 [email protected] Turner's Take Ag Marketing: https://www.turnerstakeag.com Twitter: @Turners_Take Contact Craig Turner