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.