Play Turner’s Take Podcast Episode 190

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New Podcast!

Happy Independence Day!  It is a holiday week and it feels that way.  Wednesday is an early close, Thursday we are closed for Independence Day, and Friday is a full day but the markets should be very quiet.  Friday will be like the day after Thanksgiving.  In this podcast we go over the bullish and bearish forces in the macro economy, why we think corn will trade in a range of $4.00 to $4.50 for the rest of the summer, why we are concerned about soybeans and wheat, and why we like cotton and cattle.  Make sure you take a listen to Turner’s Take Podcast!

Live Cattle

Last week we said I liked cattle.  I still do but I think it can take a little bit of time.  The Oct vs April spread looks like a good way to play it. Ten to twelve points under is historically a good value for Oct vs April.  Live Cattle seems to be putting in a seasonal low in both the cash and futures.

Oct vs April Cattle

Cotton

As of the latest CoT reports it looks like the funds are extremely short cotton while farmers are buying!  When this happens cotton is usually due for a rally,  Conditions are poor and a lot of the cotton farmers I talk to are pessimistic about the crop.  Dec cotton is trading in a tight range and I think we can break out to the upside.  I looked at the futures spreads and they are THIN.  If you want to get into cotton I think you have either buy Dec Cotton outright (not for everyone) or use the options.  Buying a call and selling a put spread to help finance could be a way to do it too.

Dec Cotton

 

 

 

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!

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: https://www.turnerstakeag.com

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

Twitter: @Turners_Take

Contact Craig Turner