Play Turner’s Take Podcast Episode 175
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New Podcast!
In our new podcast we go over the macro economy, the latest in the US/China deal, the wheat reversal, why we like corn, hogs, and crude but we don’t love cattle! Make sure you take a listen to the latest Turner’s Take Podcast.
WHEAT
SRW wheat made a reversal today on the charts and closed 23 cents higher! There were reports of tenders for wheat from Japan, Algeria, and Tunisia, with prices steady to higher and the US in competition to win the business. SRW May Wheat chart is below. The next resistance is $4.70.
The US/China trade deal received bullish news as USTR Robert Lighthizer said a deal could be only a few weeks away. The two sides are so close enough on a deal that they already have a 120 page document for the trade agreement. Both sides have to still hammer out important details, but this was the first time Lighthizer seems bullish on getting a deal done instead of playing down trade talk progress.
About Turner’s Take Podcast and Newsletter
If you are having trouble listening to the podcast, please click here for Turner’s Take Podcast episodes!
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: https://www.turnerstakeag.com
Turner’s Take Spec: https://www.turnerstake.com
Twitter: @Turners_Take
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