Play Turner’s Take Podcast Episode 175 If you are having trouble listening to the podcast, please click here for Turner’s Take Podcast episodes!
New Podcast! In our new podcast we go over the macro economy, the latest in the US/China deal, the wheat reversal, why we like corn, hogs, and crude but we don’t love cattle! Make sure you take a listen to the latest Turner’s Take Podcast.
WHEAT SRW wheat made a reversal today on the charts and closed 23 cents higher! There were reports of tenders for wheat from Japan, Algeria, and Tunisia, with prices steady to higher and the US in competition to win the business. SRW May Wheat chart is below. The next resistance is $4.70.
The US/China trade deal received bullish news as USTR Robert Lighthizer said a deal could be only a few weeks away. The two sides are so close enough on a deal that they already have a 120 page document for the trade agreement. Both sides have to still hammer out important details, but this was the first time Lighthizer seems bullish on getting a deal done instead of playing down trade talk progress.
About Turner’s Take Podcast and Newsletter If you are having trouble listening to the podcast, please click here for Turner’s Take Podcast episodes!
While the podcast does not have specific actionable trading recommendations, we do publish them in Turner’s Take Market Alert for spec traders and Turner’s Take Ag Marketing for hedgers. Want to know what to look for in the commodity futures markets? Take a listen to Turner’s Take podcast!
Craig Turner – Commodity Futures Broker
Turner’s Take Ag Marketing: https://www.turnerstakeag.com
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Twitter: @Turners_Take
Contact Craig Turner
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This material has been prepared by a Daniels Trading broker who provides research market commentary and trade recommendations as part of his or her solicitation for accounts and solicitation for trades; however, Daniels Trading does not maintain a research department as defined in CFTC Rule 1.71. Daniels Trading, its principals, brokers and employees may trade in derivatives for their own accounts or for the accounts of others. Due to various factors (such as risk tolerance, margin requirements, trading objectives, short term vs. long term strategies, technical vs. fundamental market analysis, and other factors) such trading may result in the initiation or liquidation of positions that are different from or contrary to the opinions and recommendations contained therein.
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About Craig TurnerCraig Turner is a Senior Broker at Daniels Trading, author of Turner’s Take newsletter, and a Contributing Editor for Grain Analyst. Craig is often quoted in the Wall Street Journal, Reuters, Dow Jones Newswire, Corn & Soybean Digest, and also makes appearances on SiriusXM – Rural Radio Channel 80 providing commentary for the Grain and Livestock markets. Craig has also been featured in FutureSource’s Fast Break series, Futures Magazine Online, and INO.com. Mr. Turner has a Bachelors from the Rensselaer Polytechnic Institute (RPI) where he graduated with honors and has worked at the NYSE and Goldman Sachs. While at Goldman, Craig earned his MBA in the NYU Stern executive program. Learn more about Craig Turner.
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