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 :
- There are no new cash recommendations.
- The USDA Jan. report failed to help corn and wheat prices.
- The funds turned to a buyer of soybeans on inflation concerns.
- Basis is firming. Today’s chart action is positive to soybeans.
- The USDA lowered the U.S. soybean crop, and carryout was not as big as feared.
- The USDA raised Brazil soybean crop, but not as much as feared.
- The USDA lowered the Argentina soybean crop, but not as much as hoped.
- The USDA raised the U.S. corn yield, but lower acres helped offset.
- The USDA left Brazil corn crop unchanged, despite hope of a drop.
- The USDA estimated U.S. 2018 winter wheat acres to be higher than expected.
- Farmer survey suggest 54 percent of U.S. farmers will keep the same acreage rotation in 2018 as in 2017; 30 percent will increase soybean acres and drop corn, 8 percent will increase corn acres and drop soybeans, and 18 percent will shift corn and soybean acres to other crops.
- Baby, it is cold outside!