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 cash recommendations.
  • Rumors of U.S. imposing sanctions on additional China imports offered resistance.
  • Early C IL corn and soybean yields are better than expected.
  • West Midwest corn and soybean basis continue to weaken.
  • USDA est U.S. corn yield near 181.3 vs 176.6 last year, carryout 1,774 vs 2,002 last year.
  • USDA est U.S. soybean yield near 52.8 vs 49.1 last year, carryout 845 vs 395 last year.
  • USDA est World wheat crop near 733 million metric tons vs 758 last year, U.S. carryout 935 million bushels vs 1,100 last year.
  • China swine flu continues to spread. Could reduce feed demand.
  • Russia increasing restrictions for wheat export quality. Could slow export pace.
  • Managed funds adding to corn and soybean net short and reducing wheat long.