AgriTalk ATB: "It's Not Time To Be Bearish"

July 12, 2018 03:48 PM
Bob Utterback of Utterback Marketing Service breaks down the USDA reports with Chip Flory on ATB.

After the release of USDA’s July Supply and Demand Report, Bob Utterback from Utterback Marketing Services told AgriTalk After the Bell listeners, “After the bears have had their fun over the past few weeks in corn, it’s time to not be bearish.”

ATB host Chip Flory and ATB news anchor Davis Michaelsen provided the details of today’s reports, including the cut to estimated global corn carryover in the 2018-19 marketing year, that continues the trend started in the 2017-18 marketing year.

“It’s the global story in corn that should prevent much more pressure on the corn market from here,” said Utterback. However, he also warned the global picture on soybeans, combined with the ongoing trade war with China, could delay an upside recovery in the grain markets.

Utterback added, “The silver lining to all of this is if you’re an end-user and a livestock producer, the markets are offering an excellent opportunity to establish some long-term hedges on the feed you’re going to need in the year ahead.”

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Spell Check

Wesley, IA
7/13/2018 07:43 AM

  One way to help with our balance of trade in China is to stop sending money to Terry Branstad in the form of his huge guaranteed salary until the damage Trump is doing to our markets is compensated to farmers who raise corn and soybeans. There's no reason we should be bullied into believing we should suffer this huge drop in the market which has wiped out profits (read "salary" Terry) for thousands of patriotic citizens. Sonny Perdue.. where are you? When are you backing up your rhetoric?