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.
  • U.S. spring and summer weather is beneficial to crops and yields.
  • U.S. trade wars are weighing on soybean and corn prices.
  • Trade wars and changes in U.S. RFS policy could result in lower U.S. acres.
  • Next USDA report: June 29 U.S. acres and June 1 stocks.
  • U.S. 2018 corn acres could be near 89.0 vs. USDA March est of 88.0.
  • U.S. 2018 soybean acres could be near 90.0 vs. USDA March est of 89.0.
  • U.S. June 1 corn stocks could be near 5,155 million bushels vs. 5,229 last year.
  • U.S. June 1 soybean stocks could be near 1,309 million bushels vs. 966 last year.
  • U.S. June 1 wheat stocks could be near 1,100 million bushels vs. 1,181 last year.
  • Minnesota soils are wet. Farmer has been good seller of soybeans, less corn.
  • KS wheat harvest advancing. Quality better than last year.
  • U.S./China trade concerns could increase South America 2019 soybean acres.