- 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.
Turner’s Take Ag Marketing | 2018 Corn Outlook includes access to premium web content.
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.
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 trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.