Corn Closed Up 7 Cents; Highest Since January

August 19, 2010 08:50 PM
 

“This is the highest close in December futures since last January, on totally different fundamentals” says Jerry Gulke of the Gulke Group. We had huge exports this week and I understand that freight and barges are booked up with enough sales to fill the ports into December.” 

The ProFarmer Crop Tour corn yield, announced just after the close of the market, look pretty neutral at 164.1 vs. USDA’s 165 bu. “I know a lot of traders were expecting something around 161 bu.,” says Gulke. “Monday will tell the story.”
 
Gulke appeared on CNBC this week, where he was interviewed about the Canadian company, Potash (stock symbol POT). Gulke notes the relationship between corn and the stock’s price, as shown here.
 
To view his interview, visit www.gulkegroup.com, where you also can request his written analysis, created after the TV show.
 
 
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