The corn crop is made for the most part and now we start the crop tours and yield reports to get an idea of total crop production. Regardless if corn is 178 or 180 bpa nationally, we think demand will also rise and carryout is pegged around 1.6 to 1.7 billion bushels. This is neither tight or burdensome and this is the basis for our strategies for range bound corn. It is merely adequate and we see corn trading in range for the next month or two. In the short terms we expect some downside as farmers clear out old crop and make harvest sales. In Sept and October we expect upside as demand stays strong for the cheapest feed grain on the global export market.
In this podcast we go over our strategies for corn this fall but we don’t make specific trade recommendations. We only publish those in our newsletters per industry regulations.
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
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