Play Turner’s Take Ag Marketing Podcast Episode 318

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Quarterly stocks came in as expected. Soybean acres were a bullish surprise at 88.3 million.  None of that mattered as traders sold corn, wheat and soybeans into the close.  The harvest of winter wheat in the N. Hemisphere has been pressuring all grain and oil seed markets.  The major driver of grain and oilseed markets since late February has been the lack of export supply from Ukraine via the Black Sea.  Now that new crop supply is coming to market the need for extreme price rationing is over (at least temporarily).  Corn, soybeans, and spring wheat acres are now a known quantity.  Crop conditions are good and the weather forecast is not that threatening. Stock to usage levels will be better in the next marketing year.  The only thing keeping prices where they are now is the uncertainty of Black Sea exports this fall.  Take a listen to this week’s Turner’s Take Podcast to see where we think grain and oilseed prices are heading.

 

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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 312-706-7610 cturner@danielstrading.com Turner’s Take Ag Marketing: https://www.turnerstakeag.com Twitter: @Turners_Take Contact Craig Turner

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About Craig Turner

Craig Turner is a Senior Broker at Daniels Trading, author of Turner’s Take newsletter, and a Contributing Editor for Grain Analyst. Craig is often quoted in the Wall Street Journal, Reuters, Dow Jones Newswire, Corn & Soybean Digest, and also makes appearances on SiriusXM – Rural Radio Channel 80 providing commentary for the Grain and Livestock markets. Craig has also been featured in FutureSource’s Fast Break series, Futures Magazine Online, and INO.com. Mr. Turner has a Bachelors from the Rensselaer Polytechnic Institute (RPI) where he graduated with honors and has worked at the NYSE and Goldman Sachs. While at Goldman, Craig earned his MBA in the NYU Stern executive program. Learn more about Craig Turner.