Play Turner’s Take Podcast Episode 198
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New Podcast!
This week we talk about Alan Greenspan’s comments on negative interest rates in the US and what it could mean for other assets like real estate, stocks, and gold.  We take a look at the bearish price action in the grain markets as demand continues to be very poor.  At the end of the podcast we briefly review our positions in hogs, cattle and crude.  Take a listen to this week’s Turner’s Take to learn more!
Gold
The negative interest rate story is getting very interesting as many central banks around the world are looking to easing policies to stimulate their economies.  Investors are looking into hard assets like gold as interest rates decline.

Corn
The next major support level for corn is $3.4350, which is this years low.  The 2017 low is $3.36 and the 2016 low is $3.14.  Poor demand and better than expected crop yields are weighing on the market.  The funds are now building a short position and it seems only a freeze/frost can cause short covering rally for now.

Soybeans
Nov Soybeans have major support at $8.47.  A break below those levels and beans cold trade $8.12.  This year’s low, at the depth of the US/China trade war crash, was $7.91.  The rally from $7.91 to $9.35 was due to late planting, lower acres, and poor growing conditions.  The funds are still short and will only cover if the US/China get a trade deal or if there is a real threat of a frost/freeze at the end of the growing season.

About Turner’s Take Podcast and Newsletter

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
Turner’s Take Spec: https://www.turnerstake.com
Twitter: @Turners_Take
Contact Craig Turner


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