- The USDA will release their July WASDE on Thursday. The market will be focusing on how much the USDA increases yields for corn and soybeans and how they change export demand due to the recent US trade conflicts with China and NAFTA.
Thinking ahead, we talk about what impact the US tariffs have on soybeans and corn acres in South America this fall/winter. Soybeans are currently getting a 20% premium in Brazil and this will lead many farmers to grow as much beans over corn as possible. We also take into account the traditional soybean clients that South American caters to and if they will come to the US due to the higher premiums we are seeing in Brazil.
Corn will most likely see price pressure as we head to FND for the Sept contract. There is still a lot of old crop out there that needs to be sold to make way for the new crop harvest. Once corn trades near its seasonal lows at the end of August/beginning of September we could have the potential to rally during harvest.
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
Turner’s Take Futures Spreads http://www.turnerstake.com
Subscribe to Turner’s Take Ag Marketing | 2018 Corn Outlook
Turner’s Take Ag Marketing | 2018 Corn Outlook - Turner’s Take Ag Marketing sees 2018 corn prices having a possible range from $3.15 to $4.50 given various acreage, supply and demand scenarios, with an end of season target price of $3.70. Find out more about how we determine the range of prices, our suggested marketing strategies, and our 2018 target prices.
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