Play Turner’s Take Ag Marketing Podcast Episode 354
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The CBOT is finding support after two weeks of selling. HRW (KC) Wheat is leading the charge higher. Recent rains in the the western belt did not improve wheat prospects as much as the trade initially thought. The CBOT as a whole was oversold and due for a rally. The May WASDE is next week and the USDA will include new crop supply and demand estimates for the 2023/24 marketing year. The trade has priced in a bearish report for corn and soft red winter wheat (Chicago). Soybeans, hard red winter (KC) and hard red spring (MPLS) could still be tight year-over-year. Make sure you take a listen to this week’s Turner’s Take Podcast!
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