Dec 2020 Corn Could Trade $3.20 to $4.20 Next Year. Soybeans could trade between $8.40 and $10.50.
Inside Commodity Futures
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!
In this week’s episode we go over the recent developments in the US-China trade negotiations and how it is effecting equities, grains, oilseeds, and livestock. We also talk about sugar at the end and why we like it from the long side in 2020. Make sure you take a listen to this week’s Turner’s Take podcast!
Fund short covering in HRW wheat is leading the CBOT higher. Crop Progress is further behind than expected in corn and soybeans
US-China Trade Deal Signing Could Be Delayed Until December
Corn and Soybeans continue to grind lower. The market on the CBOT with the most potential seems to be rice. Rice is too small a market to give advice about in a podcast or newsletter. Call 800-958-9470 for more details
The CBOT lacks direction as the bulls argue lower production and potential Chinese demand. The bears point to lower exports & high US prices
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
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.
This week we go over our thoughts on the stock market and why we like having exposure to the S&P 500. We go over why corn and soybeans still have 25 to 50 cents of weather/yield premium due to frost and harvest risk. Rallies in the grain and oilseeds are marketing opportunities for next year. Take a listen to Turner’s Take Podcast for more details