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 :

  • In Thursday’s USDA report, the USDA adjusted world soybean and corn demand to reflect the impact of trade tariffs with China:
    • The USDA lowered world crush demand by net 4.16 million metric tons due to lower China crush of 5.5 million metric tons.
    • The USDA raised world corn demand for feed by 3.5 million metric tons as China seeks alternative feed sources to beans and soymeal.
  • While national corn crop conditions remain well above last year’s ratings, dryness in the southern Plains and Missouri could be offsetting above-average crops in the eastern belt, while excessive moisture in IA, SD and MN is a big unknown.
  • Weather is creating some interesting logistic concerns on the U.S. river system, with northern points unable to load barges due to flooding, while the mid-Mississippi and lower is unable to load barges to full capacity due to lower water marks.