Play Turner’s Take Ag Marketing Podcast Episode 303
Podcast: Play in new window | Download
Subscribe: RSS | Subscribe to Turner's Take Podcast
If you are having trouble listening to the podcast, please click here for Turner’s Take Podcast episodes!
NEW PODCAST
We are back from Commodity Classic and thanks to everyone who came by the StoneX booth to say hello. Participation was better than I thought. I’d wager it was 75% to 80% attendance compared to years before the pandemic. It should be back to 100% next year. As for the podcast, we go over the macro markets, inflation, crude oil, grains, and oilseed. We also have a special guest interview with Cassie Adolf of StoneX about our new Farm Advantage app. Make sure you take a listen to this week’s Turner’s Take Podcast!
If you are not a subscriber to Turner’s Take Newsletter then text the message TURNER to number 33-777 to try it out for free! You may also click here to register for Turner’s Take.
FARM ADVANTAGE
StoneX prominently displayed our new Farm Advantage app at the Commodity Classic booth last week. It was a big hit. I’m positive we had the most booth traffic than anyone in our area by leaps and bounds. The Farm Advantage app was a big part of that. Farm Advantage is a free app and has quotes, charts, research, insurance info, weather, and cash bids based on zip code. For clients you can also access your account and our premium research. Please click here to check it out and download.
Click here to open an account with Craig Turner & StoneX today!
UKRAINE/RUSSIA
Ukraine’s Deputy Ag Minister said they will start planting soon. There is enough grain on storage to feed the population. My personal opinion is Ukraine plants more cereals and less oilseeds to ensure food security this year. Russia is expected to resume wheat exports from their Black Sea ports. Sovecon said that Russia’s Black Sea terminals loaded 400K tonnes last week, and that vessels were coming in and out of the ports. They also noted “full navigation in the Azov Sea is still closed but some vessels are starting to pass through the Kerch Strait (to the Black Sea).” Russian and Ukraine grain and oilseeds will eventually make it to the export market but at a slower pace and a higher cost.
GRAINS & OILSEEDS
Argentina has suspended exports on soybean meal and soybean oil. This is standard operating procedure when Argentina is about to increase export taxes. The market expects Argentina export taxes on meal and oil to increase 2% from 31% to 33% in the coming days. Spain is expected to approve emergency corn import purchases from the US and Argentina now that Black Sea supply is unavailable.
At some point the market is going to have to spend some attention on new crop weather in the N. Hemisphere. The US western corn belt is dry. The Canadian Prairies are experiencing drought in major canola and spring wheat producing areas. With questions about Ukraine production this spring, weather in the EU and China will also be big factor in price direction. The big story in the ag markets is clearly the Ukraine/Russian war but new crop weather should start to get more headlines in the coming weeks.
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! Craig Turner – Commodity Futures Broker 312-706-7610 cturner@danielstrading.com Turner’s Take Ag Marketing: https://www.turnerstakeag.com Turner’s Take Spec: https://www.turnerstake.com Twitter: @Turners_Take Contact Craig Turner
Risk Disclosure
The StoneX Group Inc. group of companies provides financial services worldwide through its subsidiaries, including physical commodities, securities, exchange-traded and over-the-counter derivatives, risk management, global payments and foreign exchange products in accordance with applicable law in the jurisdictions where services are provided. References to over-the-counter (“OTC”) products or swaps are made on behalf of StoneX Markets LLC (“SXM”), a member of the National Futures Association (“NFA”) and provisionally registered with the U.S. Commodity Futures Trading Commission (“CFTC”) as a swap dealer. SXM’s products are designed only for individuals or firms who qualify under CFTC rules as an ‘Eligible Contract Participant’ (“ECP”) and who have been accepted as customers of SXM. StoneX Financial Inc. (“SFI”) is a member of FINRA/NFA/SIPC and registered with the MSRB. SFI does business as Daniels Trading/Top Third/Futures Online. SFI is registered with the U.S. Securities and Exchange Commission (“SEC”) as a Broker-Dealer and with the CFTC as a Futures Commission Merchant and Commodity Trading Adviser. References to securities trading are made on behalf of the BD Division of SFI and are intended only for an audience of institutional clients as defined by FINRA Rule 4512(c). References to exchange-traded futures and options are made on behalf of the FCM Division of SFI.
Trading swaps and over-the-counter derivatives, exchange-traded derivatives and options and securities involves substantial risk and is not suitable for all investors. The information herein is not a recommendation to trade nor investment research or an offer to buy or sell any derivative or security. It does not take into account your particular investment objectives, financial situation or needs and does not create a binding obligation on any of the StoneX group of companies to enter into any transaction with you. You are advised to perform an independent investigation of any transaction to determine whether any transaction is suitable for you. No part of this material may be copied, photocopied or duplicated in any form by any means or redistributed without the prior written consent of StoneX Group Inc.
© 2023 StoneX Group Inc. All Rights Reserved
You must be logged in to post a comment.