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 :
- No new recommendations this week.
- There are volatile price movements for grain and financial markets in reaction to U.S. – China relations and tariff talk.
- There is slow farmer selling of grains at current prices, but corn basis has prompted some sales.
- Difficult decisions continue for selling grain for most producers as the trade war lingers.
- Export sales continue to be decent for corn, but relatively below par on soybeans and wheat compared with current USDA projections.
- Mexico’s announcement to purchase old and new crop corn is supportive of corn futures.
- Ethanol prices traded at a 13-year low; if it continues, demand for corn for ethanol may be reduced.
- Soybean crush margins continued to slip lower.
- The December USDA World Supply and Demand Report is scheduled to be released Tuesday, December 12. It is not expected to be a big surprise with any changes from their November report.