Play Turner’s Take Ag Marketing Podcast Episode 272

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Today we take a look at the macro market, the potential for a big summer rally in the grain markets, and why farmers should look to the OTC markets with myself and StoneX for hedging 2022 crop this summer.  Make sure you take a listen to this week’s Turner’s Take Podcast!

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Corn and Soybean Oil Lead CBOT Higher

Corn has been the upside leader lately and that should continue to be the case during a summer weather rally.  Cash corn prices are bullish in the US, setting records in Brazil, near historic highs in China, and the market thinks the USDA needs increase exports and lower ending stocks on the balance sheet.

Soybean oil is getting a boost due to strong demand, tight stocks, and a lower crush is limiting much needed vegetable oil on the domestic and global market.

These markets will be volatile. I still like buying buy call spreads and financing them with short put spreads.  These markets could get wild this spring and summer so it is important to find positions that you can hold onto during extreme moves.

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Dec 2022 Corn 

I had a few farmers ask me about pricing for Dec 2022 corn.  For farmers who qualify for an OTC account I really like the structured products StoneX has available.  This summer we could see Dec 2022 corn get to $4.80 or higher. Some of the accumulators could price Dec 2022 corn at $5.00 or higher with no knockout.  There are some very interesting ways to hedge 5% tp 10% of 2022 crop in the OTC market with myself and StoneX

Why do I like pricing some Dec 2022 corn this summer?  I think we are going to see a massive expansion in acres next year in the US and around the world. We saw it after 2012/2013 and at these prices I think we see it again next year and into 2023.  Old crop and new crop are bullish and will most likely remain bullish until this year’s crop is made.  There is a possibility the best prices for Dec 2022 happen this summer.