March corn, soybeans and wheat all finished the week 30 cents or more, higher.
A few weeks have past, but Jerry Gulke, president of Gulke Group, says the grain markets are finally back up to the higher levels of where they were before the Jan. 12 reports. "It’s taken a couple of weeks to get back what we lost in one day. We’ve been nickel and diming up in the markets."
Gulke says a weaker dollar is helping to support grain prices. "A cheaper dollar makes for more competitive U.S. prices." He says this was shown by good export sales in corn for the week.
Weather in South America is still a concern, especially in the bean market. "The market is really looking at the fact that weather could help soybeans."
The volatility in the European economy, Gulke says is old news and probably won’t have a big play in U.S. markets for the time being. Factors that currently are influencing the market are secured lower interest rates and the impact they will have on land prices.
For now, he says, the market took a pause to buy more time to see the full impact of all of these influences.
Listen in as Gulke provides his full comments:
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