Corn and soybean basis continues to get stronger as the production estimates get smaller. Add in potential Chinese demand and the CBOT could make the next leg higher
Grains
The Swine Times 10/16 Trade Rec
Back to back weeks of massive slaughters should put pressure on bellies and Dec futures. We want to sell.
CBOT markets were weaker in the overnight on better than expected conditions and China concerns. Slow US harvest should support.
CBOT markets were weaker in the overnight on better than expected conditions and China concerns. Slow US harvest should support.
The Swine Times 10/14-10/18
Dynamics will likely change early next week with a frost in icy US-China relations scored Friday. Is this really over? Or just intermission
Turner’s Take Podcast: WASDE Bullish Soybeans; Bearish Corn
A bullish quarterly stocks reports has shifted possible prices ranges for corn and soybeans materially higher. New Crop Corn could have a carryout sub 2 billion with the potential to go lower due to lower yields this year. Soybeans could be sub 500, which seemed impossible six months ago.
Chinese trade talks are off to a confusing start.Some call for a “mini deal” being in the cards, some expect China to leave by lunch
Chinese trade talks are off to a confusing start.Some call for a “mini deal” being in the cards, some expect China to leave by lunch
Weather, WASDE and trade talks will be the theme in the week ahead
Weather, WASDE and trade talks will be the theme in the week ahead. Buckle up, by Friday we could be looking at different market dynamics.
The Swine Times 10/07-10/11
The Chinese visit to Washington will dominate the trade toward the end of the week. Look to cover bear spread action in Dec,early this week
Turner’s Take Podcast: Bullish Quarterly Stocks Report Big Boost for Grain and Oilseeds
A bullish quarterly stocks reports has shifted possible prices ranges for corn and soybeans materially higher. New Crop Corn could have a carryout sub 2 billion with the potential to go lower due to lower yields this year. Soybeans could be sub 500, which seemed impossible six months ago.
Corn and beans look to test 4 and 930, but a breakout is unlikely before WASDE/trade meetings next week
Corn and beans look to test 4 and 930, but a breakout is unlikely before WASDE/trade meetings next week