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.
- The U.S. is talking of increasing tariffs on EU auto imports. This could impact U.S. soybean exports to the European Union.
- Talk of African Swine Flu spreading in China could reduce pork demand and soybean imports.
- The USDA Annual Outlook conference is expected to release new 2019/20 U.S. Supply and Demand numbers.
- South America weather is mostly favorable for crops. Brazil soybean harvest is near 40% done.
- U.S. 2019 spring weather could be wet and cool. The summer could be near normal.
- U.S. cold and wet winter could slow early U.S. Midwest spring field work and cash grain movement.
- U.S. country elevators are talking about building additional storage in carry markets, especially for soybeans.
- Managed funds are short Chicago wheat, are even soybean, soymeal and corn, and are long soyoil.