We are hearing a lot of chatter about the WH and CDC recommending lockdowns starting in the 2nd or 3rd week of August
Turner's Take Podcast
In Turner's Take Podcast, Daniels Trading futures brokers discuss the commodity markets from a fundamental, technical, and seasonal perspective. Turner's Take podcast (formerly Inside Commodity Futures) is hosted by Craig Turner, commodity broker with Daniels Trading and author of Turner’s Take newsletter.
Macro Markets Crash and bring down energy, grains, and oilseeds
Fed Minutes, Energy, and Grains
The June 30th Acres and Stocks Report is next Wednesday at 11 am central.
This is the kind of volatility you can get when crop stocks are tight and new crop stocks are projected adequate-to-tight. The summer weather volatility can be off the charts. Expect more of the same over the next few weeks. In our latest podcast we go over how to trade, hedge and market in these periods. Make sure you take a listen to this week’s Turner’s Take Podcast!
It is June. Old crop stocks are tight. The weather is hot and dry and we have a weather market
Soybeans are tight. Corn can go either way. Traders might as well hurry up and wait until a weather market develops
The USDA will release their May WASDE on Wednesday the 12th at 11am central. The May WASDE tends to be a big report because this is the first time the USDA includes new crop supply and demand tables for new crop. We go over the industry analyst estimates, what that means for prices, and where we could see some surprises. The spec trade is very long, prices are high, and we have a long way to go before this new crop is made.
US farmers will most likely plant a majority of their corn and soybeans over the next three weeks. The May 12th WASDE will report new crop supply and demand numbers for the first time this year. Domestic old crop stocks are tight but the US is overpriced on the global export market. This all points to a big choppy trading range for the next few weeks and we have some idea on how to trade it.
Corn and soybean oil closed limit up on soaring cash values