Play Turner’s Take Podcast Episode 195
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The WASDE was surprisingly bearish for corn as the USDA reported 90mm acres planted, 82mm harvests, and a 169.5 yield!  Demand destruction had been the main bearish driver for corn this spring and summer.  The Supply Bulls took a major hit when production came out at almost 14 billion bushels.  Some argue the satellite companies call for high 150s or 160s, and very respected analysts in the industry think the same.  I would not be surprised if acres and yield are lower, but by how much?  If corn yields are closer to 164 then carryout could be 1.6 or 1.7 billion, and at that level corn can trade in the high $3s and low $4s.  To hear more about our thoughts on the WASDE please take a listen to this week’s Turner’s Take Podcast!
As talked about in the podcast, you can click here to see the Aug WASDE report and the change between July and August.
*While the podcast does not have specific actionable trading recommendations, we do publish them in Turner’s Take Market Alert for spec traders and Turner’s Take Ag Marketing for hedgers.*
 
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If you are having trouble listening to the podcast, please click here for Turner’s Take Podcast episodes!
Craig Turner – Commodity Futures Broker
Turner’s Take Ag Marketing: https://www.turnerstakeag.com
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Twitter: @Turners_Take
Contact Craig Turner