Marketing Partners Advisory: Weekly Conference Call Recap

The following are comments and discussion items from the weekly conference call of the recommendations group of Marketing Partners Advisory.

Discussion Items :

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  • MPA recommends selling 10% of 2019 corn near $4.05 December 2019 futures.
  • The lack of a new U.S. and China trade deal offers resistance to prices.
  • Rumors of China interest in U.S. corn triggered some end-user buying through September.
  • Managed funds are record net short corn and combined grains and oilseeds.
  • Technical charts remain oversold and vulnerable for a demand or lower supply rally.
  • Nebraska flooding is slowing cash movement and farmer selling.
  • U.S. Midwest 30- and 60-day weather forecasts suggest above normal rains for central states.
  • Historically, years of late planted U.S. corn do not rally until June.
  • On March 29, USDA acres report should show higher corn, lower wheat and soybean acres than last year.
  • On March 29, USDA March 1 stocks report should show lower corn, higher wheat and soybean stocks than last year.