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 :
- New Recommendations:
- Sell 10% 2018 soybean near $9.50 March 2019.
- Sell 10% 2019 soybean at $10.00 November 2019.
- The U.S. government shutdown is reducing release of key data, which is also reducing trade volatility.
- There is no China and U.S. trade deal yet. The next meeting is on Jan 30-31 in Washington.
- Analysts are increasing U.S. soybean and wheat carryouts due to lower exports. Corn carryouts are increased due to lower domestic use.
- 25 percent of Brazil is dry. 25 percent of Argentina is wet. Brazil’s soybean crop estimates are dropping.
- U.S. farmer selling has slowed. The cash corn and soybean pipelines are adequate.
- U.S. winter wheat crop conditions are favorable. Acres could be record low.