US grain and oilseed markets exploded higher last night on the open following the G-20 meetings over the weekend leaving price gaps everywhere you look. The meeting appears to have been a success as the message has been spun as positive by both sides.
Row crop markets are mixed in the overnight, as the USD trades unchanged amidst an evening of low volume. All 4 markets I cover for you come into this morning facing weekly losses although no real technical damage has been done in any market with the exception of KC Wheat.
Turner’s Take Newsletter & Podcast | Trade War Causes Massive Ag Selling NEW PODCAST | We just released a new Turner’s Take webinar. I talk about how the escalating Trade War (of words) caused Soybeans to trade 66 cents lower today, which also lead corn down 17 cents and HRW wheat down 27 cents. Click… Read more.
Good morning friends The carnage continues at the CBOT after President Trump announced plans are in the works for a tariff plan to hit back at China with tariffs on a list of another 200 billion dollars of import tariffs. Every market on my screen with the exception of the dollar and copper (oddly) are… Read more.
NEW PODCAST | We just released a new Turner’s Take podcast. We go over our thoughts on the June 2018 WASDE and why we think corn has the best changes of a big rally IF we have a significant weather rally. Please click here to listen to the latest Turner’s Take podcast. JUNE WASDE | The USDA did… Read more.
PODCAST | The USDA released their April WASDE yesterday and we dive right in during the podcast. We think the biggest takeaway was what the USDA had to say about 2018/19 new crop corn exports. The Ag Forum had 2019/19 corn exports at 1.9 billion bushels. I think we could see 2.1 to 2.2 billion in… Read more.
Good morning friends US row crop markets are higher across the board as I walk to work with 2 inches of snow on the ground here in Chicago, two weeks into the month of April. Corn and soybean prices have erased all of the selling that had taken place starting at 3 am on Wednesday… Read more.
Good afternoon friends! We had a bevy of reports today, starting with CONAB this morning which was neutral for soybeans (113 MMT beans/87.5 MMT corn) and bullish for corn. We then had USDA exports that were fantastic with a capital ‘F’ for corn, beans and cotton. Followed by maybe one of the most bullish USDA… Read more.
Have a look and TRADE IT WHEN YOU SEE IT!!!
Have a look at Fridays close and todays candlestick…time to go to work!!