In this week’s podcast we go over the May WASDE and what it means for new crop corn and soybeans. The outlook is bearish corn and bullish soy
WASDE
Turner’s Take Podcast: US States Reopening Bullish for Macro Markets
As the US economy reopens we like the S&P 500, crude oil, and live cattle. The May WASDE could be very bearish for corn
Turner’s Take Podcast: Corn Selling Pressure Should Subside by First Notice Day
As May FND subsides we think July Corn has the potential to have a bear market rally into the May WASDE report
Turner’s Take Podcast: May 2020 Crude Oil Trades Negative Prices…And How Low Can Corn Go?
This week we go over the the latest jobless claims and implied unemployment rate. We take a look into the energy, grain, and livestock markets too.
Turner’s Take Podcast: Unemployment Rate Near 15%
This week we go over the the latest jobless claims and implied unemployment rate. We take a look into the energy, grain, and livestock markets too.
Turner’s Take Podcast: April WASDE Bearish
I am working from home while IL has a Stay at Home order in effect until April 30. My office cell is 312-651-4621. My office phone 312-706-7610 will roll over to my cell phone if you call my trade desk. This week we talk the April WASDE, what to look for in the May WASDE, and the latest from OPEC and crude oil production cuts. Make sure you take a listen to the latest Turner’s Take Podcast!
Turner’s Take | WASDE Hikes Grain & Oilseed Stocks
The April WASDE was bearish against expectations but the market had been looking for higher grain and oilseed stocks across the board. Looks a lot like “sell the rumor, buy the fact” to me.
Turner’s Take Podcast: 97 Million Acres of Corn!
New Crop looks bad. We estimate we lose another 150mm in demand from low energy prices in the 2020-21 marketing year. With 97 million acres and a trend line yield we see ending stocks blowing out to 3.4 billion. This puts cash prices and harvest lows under $3.
Turner’s Take | Ethanol and Corn
Farm Policy (Univ of IL) is estimating ethanol production will be down about 750mm gallons for March, April, and May. That is about 250mm bushel of corn lost from decreases in ethanol demand. There will probably be more demand lost in June/July/Aug to round out the marketing year. Right now we could be looking at 350mm to 400mm bushels of lost demand for 2019-2020 corn. The big concern is those bushels go right back into the ending stocks on the balance sheet.
Turner’s Take Podcast: Transitioning to Wide Ranging Consolidation
I am working from home while IL has a Stay at Home order in effect. My office cell is 312-651-4621. My office phone 312-706-7610 will roll over to my cell phone if you call my trade desk. This week we talk about the steps that took place so a potential bottom could be made. I think the market is now heading into a period of wide ranging consolidation. We talk about what to look for and why in the coming weeks for stocks, energy, livestock and grains. Make sure you take a listen to the latest Turner’s Take Podcast!