Play Turner’s Take Ag Marketing Podcast Episode 282
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New Podcast
Today on the podcast we talk about the possibility of new US lockdowns for August.  It is starting to leak out the WH and CDC have been talking to governors about lockdowns starting in the second or third week of August.  This is not set in stone but it is being considered.  States do not have to follow WH/CDC recommendations but I’m sure those governors who are politically aligned with the administration will follow orders.  If the US goes into a partial lockdown in the next few weeks we expect the markets to decline but as much as they did last year.  The trade knows how to discount economic growth during covid lockdowns.  Their is not as much market uncertainty as the last time around and the big funds, commercial producers, and corporate end users should all have some sort of playbook now.  Make sure you check out this week’s Turner’s Take Podcast!
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Out of the Office Next Week
I am out of the office next week.  If you are a client and need something please call my office at 312-706-7610 and one of the brokers on our trade desk will be able to help you out.  It always helps covering brokers if you have your account number handy when you call. I tend to take my family vacation at the end of summer after the crops are generally made but before school starts.  We took our family vacation during July 4th week back in 2012 and I think I spent half my time on the phone.  Lesson learned!
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Weather
Rains in South Dakota last night and better chances for cooler weather and rain in the Midwest this weekend is weighing on the CBOT right now. The milder temps are a reason for natural gas to sell off today too.
Below is the US Drought Monitor as of 7/27 (released yesterday).  The eastern corn belt is going great. North Dakota is in extreme drought while MN and SD are in severe drought.  N. IA is experiencing widespread moderate to severe drought.
The next WASDE is August 12th and there is a go...