Play Turner’s Take Ag Marketing Podcast Episode 311 If you are having trouble listening to the podcast, please click here for Turner’s Take Podcast episodes! New Podcast In this week’s episode we ask the question how will inflation change trading ranges in the ag markets once we go back to adequate and burdensome stocks. Will we see $3.00 corn again or $4.00 wheat? How about $8 soybeans or $400 canola? We take a look at what inflation did to commodity prices in the 1970s and how they never did go back to the old ranges from the 1960s. Make sure you take a listen to the latest Turner’s Take Podcast! Inflation & Ag Market Lows Below is a 60 year chart of corn. In the… [Read More...]

Turner’s Take Podcast | May WASDE Bullish Wheat and Corn
Play Turner’s Take Ag Marketing Podcast Episode 310 If you are having trouble listening to the podcast, please click here for Turner’s Take Podcast episodes! New Podcast In this week’s episode we go over the bullish May WASDE report. The USDA is estimating tight new crop ending stocks for corn, wheat and soybeans. We talk about each one and why we think wheat is the most bullish, followed by corn and then soybeans. I also talk about supply and demand balance sheet scenarios and I’ve included my tables below. More to come next week but until then make sure you take a listen to the latest Turner’s Take Podcast! Supply and Demand Scenarios Below are my supply and demand scenarios for new crop… [Read More...]
Turner’s Take Podcast | Wheat Leads Ag Markets Higher
Play Turner’s Take Ag Marketing Podcast Episode 309 If you are having trouble listening to the podcast, please click here for Turner’s Take Podcast episodes! New Podcast In this week’s episode we go over the Fed raising interest rates, slowing economic growth, and the threat of stagflations. Then we switch gears and talk about wheat and why it is the leader of the ag markets. Corn, soybeans, canola, and wheat are all bullish due to tight stocks and now we are seeing planting delays. India wheat production is coming down as are estimates for 2nd crop Brazilian corn. The grain and oilseed markets need every last bushel of production it can get due to Black Sea export losses. This is all setting up for a… [Read More...]
Turner’s Take Podcast | Spring Wheat Planting Delays
Play Turner’s Take Ag Marketing Podcast Episode 308 If you are having trouble listening to the podcast, please click here for Turner’s Take Podcast episodes! New Podcast Today we go over what planting delays mean for the hard red spring (HRS) wheat. This market is also known as Minneapolis wheat. The US plants about 11mm acres of HRS and Canada will plant over 17mm for a combined 28 million acres. North Dakota accounts for half of all US HRS wheat acres, and makes up about 20% of all HRS production in N. America. The delays in ND are serious and if farmers can’t plant HRS wheat in the next three weeks they could choose their Prevent Plant option. To make matters worse, hard red winter (HRW)… [Read More...]
Turner’s Take Podcast | Bank of Canada Raises Interest Rates 0.50%; Fed Expected To Do The Same
Play Turner’s Take Ag Marketing Podcast Episode 306 If you are having trouble listening to the podcast, please click here for Turner’s Take Podcast episodes! New Podcast Inflation is raging and central banks have been slow to react. The Bank of Canada raised interest rates by 0.50% today and the US Federal Reserve is expected to do the same after the next FOMC meeting. Old crop corn, wheat, soybeans, and canola are still tight and new crop prices are rallying as the market accepts the likelihood of tight stock during the 2022-23 marketing year. In this podcast we go over the USD and CAD, crude oil prices, corn, wheat, soybeans, and canola. Make sure you take a listen to this week’s Turner’s Take Podcast! Turner&#… [Read More...]
Turner’s Take Podcast | Farm Advantage Phone App
Play Turner’s Take Ag Marketing Podcast Episode 304 If you are having trouble listening to the podcast, please click here for Turner’s Take Podcast episodes! FARM ADVANTAGE PHONE APP In our last episode we included our interview with Cassie Adolf of StoneX, the woman who made Farm Advantage happen. The Farm Advantage app is too good to just add to the end of a regular Turner’s Take Podcast. We need a special podcast dedicated to Farm Advantage. StoneX prominently displayed our new Farm Advantage app at Commodity Classic 2022 in New Orleans. It was a huge hit and one of the highlights of the show. Farm Advantage is a free app and has market quotes, advanced charts, StoneX research and reports, USDA insurance info, BAMWX weather… [Read More...]
Turner’s Take Podcast | Synthetic Trading Values
Play Turner’s Take Ag Marketing Podcast Episode 302 If you are having trouble listening to the podcast, please click here for Turner’s Take Podcast episodes! NEW PODCAST This week we go over the Ukraine/Russia war and how it caused limit up moves in the wheat markets. We then take a deeper dive into May Chicago Wheat and why it was the leader of all wheat contracts. We end with a discussion on how we derive synthetic values using May SRW Wheat as an example. Make sure you take a listen to the latest Turner’s Take Podcast! If you are not a subscriber to Turner’s Take Newsletter then text the message TURNER to number 33-777 to try it out for free! You may also click… [Read More...]
Turner’s Take Podcast | Volatility: {noun} a tendency to change quickly and unpredictably
Play Turner’s Take Ag Marketing Podcast Episode 301 If you are having trouble listening to the podcast, please click here for Turner’s Take Podcast episodes! NEW PODCAST If you are not a subscriber to Turner’s Take Newsletter then text the message TURNER to number 33-777 to try it out for free! You may also click here to register for Turner’s Take. This week we go over the Ukraine/Russia war and what it means for grain and oilseed prices. Since the open on Monday night the market was highly volatile for wheat, corn, soybeans, canola, and crude oil. We were already expecting high volatility between now and the 4th of July due to tight supplies and strong demand, and now the war in Ukraine adds… [Read More...]
Turner’s Take Podcast | CONAB Slashes Brazil Soybean Estimates
Play Turner’s Take Ag Marketing Podcast Episode 299 If you are having trouble listening to the podcast, please click here for Turner’s Take Podcast episodes! NEW PODCAST Lots of news and information to go over this week. We talk macro markets and trends but then focus on the CONAB surprise and what it means for grain and oil seed prices for 2021/22 and the 2022/23 marketing years. Make sure you take a listen to this week’s Turner’s Take Podcast! If you are not a subscriber to Turner’s Take Newsletter then text the message TURNER to number 33-777 to try it out for free! You may also click here to register for Turner’s Take. CONAB SOYBEAN ESTIMATES CONAB shocked the oilseed market and cut production down… [Read More...]
Turner’s Take Podcast | February WASDE Estimates
Play Turner’s Take Ag Marketing Podcast Episode 298 If you are having trouble listening to the podcast, please click here for Turner’s Take Podcast episodes! NEW PODCAST The Bank of England raised rates this week to 0.50% on a 5-4 vote. The four no votes wanted rates to increase to 0.75%. The EU has changed its tune and is now considering more hawkish monetary policy for 2022. We go over the macro markets, the Feb WASDE, and what we think about wheat, corn and soybeans. Make sure you take a listen to Turner’s Take Podcast! If you are not a subscriber to Turner’s Take Newsletter then text the message TURNER to number 33-777 to try it out for free! You may also click here to register for… [Read More...]
Turner’s Take Podcast | Bullish Grains, Hawkish Fed
Play Turner’s Take Ag Marketing Podcast Episode 294 If you are having trouble listening to the podcast, please click here for Turner’s Take Podcast episodes! NEW PODCAST In this podcast we go over the Fed minutes and why the markets thought they were more hawkish than expected. We talk about why the US Dollar Index could go over 100 and stay there. We also go over why corn could still have more upside, why China is buying US soybean cargos, and the weakness in wheat. If you are not a subscriber to Turner’s Take Newsletter then text the message TURNER to number 33-777 to try it out for free! You may also click here to register for Turner’s Take. About Turner’s Take Podcast and Newsletter… [Read More...]
Turner’s Take Podcast | Macro Market Fears vs South American Weather
Play Turner’s Take Ag Marketing Podcast Episode 293 If you are having trouble listening to the podcast, please click here for Turner’s Take Podcast episodes! NEW PODCAST Grain markets opened up stronger Sunday night but eventually succumbed to omicron shutdown fears. It this podcast we go over inflation, interest rate hikes, and the threat of omicron shutdowns. We also talk about why covid shutdowns hurt energy markets more than grain and oilseeds. Make sure you take a listen to this week’s Turner’s Take Podcast. If you are not a subscriber to Turner’s Take Newsletter then text the message TURNER to number 33-777 to try it out for free! You may also click here to register for Turner’s Take. Macro Markets Equity and energy… [Read More...]
Turner’s Take Podcast | Dec WASDE Mixed
Play Turner’s Take Ag Marketing Podcast Episode 292 If you are having trouble listening to the podcast, please click here for Turner’s Take Podcast episodes! NEW PODCAST In this week’s podcast we focus on the USDA’s Dec WASDE report. The market viewed it as bearish wheat, neutral corn, and bullish soybeans. We see the trade quickly digesting this report and then moving on to trading US exports and S. American weather. I think MW and KC wheat will find support on the breaks. Corn has the potential to break through $6 on increased demand or S. American weather issues. Soybeans will most likely be range bound but the USDA was supportive for soybean oil. To learn then please take a listen to the latest… [Read More...]
Turner’s Take Podcast | Fed Chairman Powell Says Inflation No Longer “Transitory”
Play Turner’s Take Ag Marketing Podcast Episode 291 If you are having trouble listening to the podcast, please click here for Turner’s Take Podcast episodes! New Podcast In this week’s podcast we go over what Fed Chairman Jerome Powell meant when he told Congress inflation is no longer transitory. If inflation is not transitory then it is structural. Powell acknowledged the “risk of higher inflation has increased” and now the market will expect the Fed to accelerate their tapering along with two or three interest rate increases in 2022. We also go over our views on the energy and ag markets, why we like old crop corn and soybean oil, but are sellers of new crop wheat. Make sure you take a listen to this… [Read More...]
Turner’s Take Podcast | Thanksgiving Week
Play Turner’s Take Ag Marketing Podcast Episode 290 If you are having trouble listening to the podcast, please click here for Turner’s Take Podcast episodes! New Podcast It is Thanksgiving week and we are already seeing lower volumes and less trader participation. Money flow is still coming into commodities from the inflation trade. Interest rates are on the rise. Western Europe nations are starting to impose lockdowns for COVID and that has pressured the energy markets. At the CBOT wheat continues to lead the ag markets. We talk about all of it on this week’s Turner’s Take podcast! If you are not a subscriber to Turner’s Take Newsletter then text the message TURNER to number 33-777 to try it out for free! You may… [Read More...]
Turner’s Take Podcast | Well, That Escalated Quickly
Play Turner’s Take Ag Marketing Podcast Episode 286 If you are having trouble listening to the podcast, please click here for Turner’s Take Podcast episodes! New Podcast In today’s podcast we go over the US Federal Reserve increasing interest rates and tapering bond purchases. We also talk about Natural Gas and how high prices this winter could impact fertilizer prices and acres/yields next growing season. Make sure you take a listen to this week’s Turner’s Take Podcast! If you are not a subscriber to Turner’s Take Newsletter then text the message TURNER to number 33-777 to try it out for free! You may also click here to register for Turner’s Take. Natural Gas If you’ve seen a recent chart of… [Read More...]
Turner’s Take Podcast | August WASDE Bullish Corn & Wheat
Play Turner’s Take Ag Marketing Podcast Episode 283 If you are having trouble listening to the podcast, please click here for Turner’s Take Podcast episodes! New Podcast The USDA’s August WASDE was bullish for corn and wheat while slightly bearish for soybeans. In our podcast we go over why the markets will trade in range for the next month or two but could really take off later this year. Also take our first look into the 2022-23 marketing year for corn and soybeans to see what the ending stocks (and price) might look like a year from now. Make sure you check out this week’s Turner’s Take Podcast! If you are not a subscriber to Turner’s Take Newsletter then text the message TURNER… [Read More...]
Turner’s Take Podcast | Acres and Stocks Report Next Week
Play Turner’s Take Ag Marketing Podcast Episode 279 If you are having trouble listening to the podcast, please click here for Turner’s Take Podcast episodes! New Podcast The acres report and quarterly stocks report is next week, June 30th, at 11 am central. Expectations are high for gains in both corn and soybean acres. Quarterly stocks can also be a huge wild card this time of year for old crop corn. Weather has been getting better for the Midwest but we are still in the midst of a strong grain demand market. We go over all of these aspects of the grain markets and how we want to position ourselves going into the big report next week. Make sure you take a listen to this week’s… [Read More...]
Turner’s Take Podcast | Hurry Up and Wait
Play Turner’s Take Ag Marketing Podcast Episode 276 If you are having trouble listening to the podcast, please click here for Turner’s Take Podcast episodes! New Podcast In this week’s podcast we go over the latest news in the grain and oilseed markets. We also take a look at the May WASDE from last week to get an idea of possible price ranges for old and new crop going forward. Make sure you take a list to Turner’s Take Podcast! If you are not a subscriber to Turner’s Take Newsletter then text the message TURNER to number 33-777 to try it out for free! You may also click here to register for Turner’s Take. May WASDE The May WASDE showed tight stocks for… [Read More...]
Turner’s Take Podcast | Futures, Options, OTC, and Structured Products
Play Turner’s Take Ag Marketing Podcast Episode 272 If you are having trouble listening to the podcast, please click here for Turner’s Take Podcast episodes! New Podcast Today we take a look at the macro market, the potential for a big summer rally in the grain markets, and why farmers should look to the OTC markets with myself and StoneX for hedging 2022 crop this summer. Make sure you take a listen to this week’s Turner’s Take Podcast! If you are not a subscriber to Turner’s Take Newsletter then text the message TURNER to number 33-777 to try it out for free! You may also click here to register for Turner’s Take. Corn and Soybean Oil Lead CBOT Higher Corn has been the upside… [Read More...]