The USDA’ s February WASDE will included expected demand from Phase One and the USMCA trade deals. Both should be friendly
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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.
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New crop corn is $4.00. If we have 96mm acres and a trend line yield the Dec20/July21 carry will be 30 cents. $4.30 new crop sales are possible.
I had a great time at FARMCON this week in Kansas City. We also go over Phase One and what it means for US ag demand
Our first podcast of 2020 is out. We go over the recent macro market events and then dive into our thoughts on the upcoming WASDE on January 10th. The Jan WASDE always has the potential to cause a limit move. Make sure you take a listen to this week’s Turner’s Take Podcast!
Phase One of the trade deal should be very supportive for the grain markets. Soybeans could be the big winner and in the most need of acres
Dec 2020 Corn Could Trade $3.20 to $4.20 Next Year. Soybeans could trade between $8.40 and $10.50.
We go over the recent developments in the US-China trade negotiations and how it is effecting , grains, oilseeds, and livestock.Make sure you take a listen to this week’s Turner’s Take podcast!
The markets are higher today as more snow is forecast in the central US and that will further delay corn harvest. Farmer sales also tend to slow down during the week of Thanksgiving and that can be supportive too. Andy Daniels, the founder of Daniels Trading, has an opinion about rice today
Export sales were above the average estimates and towards the top of the ranges. US corn is well priced at these levels as are soybeans. Corn is competitive with the Black Sea and South America will be out of the export game for the next few months. US Soybeans are now about 30 cents under Brazil for December and 10 under for January. Support for Jan Soybean is $9.00 and then $8.90. A break below $8.90 could cause the funds to go from net long to net short. I personally don’t see the funds getting net short unless the Phase One trade deal completely falls apart.