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Home / Futures Blog / Turner’s Take Weekly | Grains Higher | NEW PODCAST!

Turner’s Take Weekly | Grains Higher | NEW PODCAST!

February 15, 2017 by Craig Turner

I was on Market Rally with Chip Flory on Monday.  If you missed it you can hear the replay of the show here: Craig Turner on Market Rally with Chip Flory

The new Turner’s Take podcast is now out. You can subscribe for free on iTunes and Android. You can also listen to the podcast on our web page here: Turner’s Take Podcast for Feb 15, 2017

Soybeans, corn and wheat are higher across the board as money continues to flow into grain and oilseed markets. Corn continues to charge higher and I still like being bull spread July/Dec corn.  As fund money comes into the commodity markets as a hedge against inflation, I think corn, soybeans, and wheat will continue to benefit.  Corn and wheat are relatively low priced when compared to prices in the past ten years.  Soybeans already have a big net long spec position but we could still see even more fund money come into the soybean market. 

MARCH CORN

 

I think strength in July vs Dec Corn is also telling the market this rally has legs.  Between the money flow, exports,  expectations of lower corn acres, and the inflation trade, corn seems to want to trade higher. 

July vs Dec corn

 

The HRW areas of US sound like they are having more issues than the SRW regions so I continue to like July KC vs July Chicago wheat.  The trend continues to be bullish and I think we will be in the 20 to 30 cent range by First Notice Day.

July KC vs July Chicago

We recently took bearish positions in Oct/Aug cattle and June/April Hogs and I think both of those markets are going to work lower over the next month or two.  I like the hogs bear spread because it looks like it is trying to reverse and the seasonals are bearish this time of year. I like the bear spread in cattle because the recent auctions have been weak, the charts are bearish, and the latest Cattle on Feed had a very bearish placements number.

April vs June Hogs

 

 Aug vs Oct Live Cattle

 

 

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Risk Disclosure

This material is conveyed as a solicitation for entering into a derivatives transaction.

This material has been prepared by a Daniels Trading broker who provides research market commentary and trade recommendations as part of his or her solicitation for accounts and solicitation for trades; however, Daniels Trading does not maintain a research department as defined in CFTC Rule 1.71. Daniels Trading, its principals, brokers and employees may trade in derivatives for their own accounts or for the accounts of others. Due to various factors (such as risk tolerance, margin requirements, trading objectives, short term vs. long term strategies, technical vs. fundamental market analysis, and other factors) such trading may result in the initiation or liquidation of positions that are different from or contrary to the opinions and recommendations contained therein.

Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.

Trade recommendations and profit/loss calculations may not include commissions and fees. Please consult your broker for details based on your trading arrangement and commission setup.

You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should read the "risk disclosure" webpage accessed at www.DanielsTrading.com at the bottom of the homepage. Daniels Trading is not affiliated with nor does it endorse any third-party trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.

Filed Under: Turner's Take

About Craig Turner

Craig Turner is a Senior Broker at Daniels Trading, author of Turner’s Take newsletter, and a Contributing Editor for Grain Analyst. Craig is often quoted in the Wall Street Journal, Reuters, Dow Jones Newswire, Corn & Soybean Digest, and also makes appearances on SiriusXM – Rural Radio Channel 80 providing commentary for the Grain and Livestock markets. Craig has also been featured in FutureSource’s Fast Break series, Futures Magazine Online, and INO.com. Mr. Turner has a Bachelors from the Rensselaer Polytechnic Institute (RPI) where he graduated with honors and has worked at the NYSE and Goldman Sachs. While at Goldman, Craig earned his MBA in the NYU Stern executive program. Learn more about Craig Turner.

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Risk Disclosure

This material is conveyed as a solicitation for entering into a derivatives transaction.

This material has been prepared by a Daniels Trading broker who provides research market commentary and trade recommendations as part of his or her solicitation for accounts and solicitation for trades; however, Daniels Trading does not maintain a research department as defined in CFTC Rule 1.71. Daniels Trading, its principals, brokers and employees may trade in derivatives for their own accounts or for the accounts of others. Due to various factors (such as risk tolerance, margin requirements, trading objectives, short term vs. long term strategies, technical vs. fundamental market analysis, and other factors) such trading may result in the initiation or liquidation of positions that are different from or contrary to the opinions and recommendations contained therein.

Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.

Trade recommendations and profit/loss calculations may not include commissions and fees. Please consult your broker for details based on your trading arrangement and commission setup.

You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should read the "risk disclosure" webpage accessed at www.DanielsTrading.com at the bottom of the homepage. Daniels Trading is not affiliated with nor does it endorse any third-party trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.

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