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 :

  • MPA has no new cash sell recommendations.
  • USDA October crop report bullish soybeans and bearish corn.
  • U.S. announced phase 1 of a trade deal with China. Details are lacking.
  • Winter storm could lower U.S. corn and soybean crops especially in North Dakota.
  • U.S. soybean harvest is near 34 percent done vs. 49 average. Crop rated 52 percent good/ex.
  • U.S. corn harvest is near 23 percent done vs. 36 average. Crop rated 55 percent good/ex.
  • U.S. Midwest 2-week weather forecast mostly dry with temps near normal.
  • South America crop weather mostly favorable. Brazil soybean planting behind normal.
  • Funds are long soybean and short Chicago wheat and corn futures. Index funds buying soybeans.
  • Chicago wheat futures traded over 200 day moving average for the first time since June.
  • Central Midwest corn and soybean basis firm year over year on late harvest.