ProFarmer confirmed big crops this week as corn was down 20 cents and soybeans does 50 cents from last weeks highs. ProFarmer pegged the national corn yield at 177.3 bpa and soybeans at 53.0 bpa. Next week we will see how much old crop needs to be priced and moved before the Sept futures first notice day. In years past this has caused selling into the end of the month. We expect corn to make seasonal lows into FND. Soybeans are another story. Included in the this post are the Supply and Demand table scenarios we talk about on the podcast. As you can see, things do not look great for soybeans. 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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