Play Turner’s Take Ag Marketing Podcast Episode 268
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In our latest podcast we go over the new COVID stimulus just approved in the US House of Representatives. We also talk about energy demand likely to increase this spring and summer while supply might stay the same. OPEC may prefer higher oil prices and not feel the need to roll back their production cuts. The US government is more likely to promote futures growth of green energy than immediate growth in fossil fuel supply. This could send crude over $70 this summer. Finally we look at the grain markets and my favorites are still old crop soybean oil and new crop soybeans. Make sure you take a listen to the latest Turner’s Take Podcast!
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OPEC+ Meets Thursday
OPEC+ will meet tomorrow and some analysts think they will not roll back production cuts. It was widely thought this meeting would be the one where OPEC+ decides to pump more oil as demand and prices rebound. Now we are hearing reports OPEC+ may not make any changes. That could be another bullish sign for energy in the US this spring and summer.
Texas and Mississippi are looking to lift all mask mandates. Summer driving season is around the corner and many people are looking to make up for lost time stuck at home. The US and global economy will continue to rebound and grow as more people are vaccinated.
I like July crude. I like the futures if you can handle it (easier said than done!). I like buying call spread and selling put spread as a limited risk way to get crude exposure too. I would prefer to buy a pullback so give me a call at 312-706-7610 to figure out a game plan for energy positions this spring and summer.
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Turner’s Take Podcast
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Turner’s Take Newsletter & Podcast - Turner’s Take is a complimentary weekly market commentary newsletter that covers the Grain, Livestock and Energy futures spread markets using fundamental, technical and seasonal analysis.
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