The agriculture industry should get ready for a wild June 28, when USDA issues its latest report about grain stocks used since March 1.
"That’ll be a blockbuster," says Jerry Gulke, president of the Gulke Group. "That whole crop report on the 28th is going to give pause to a lot of analysts. To have to analyze this stuff while the market is trading is just going to be crazy."
Corn feed usage will be a major focus, Gulke says.
"Things are never as bad as we think, and there’s been a lot of corn available in farmers’ bins. I think the elevators are out but the farmers are holding it. We’ll probably find more grain on farms than we thought we had. So I doubt that that’s going to be bullish."
Another sector to watch: Hog and farrowing intentions. That’s because several large hog operations are located in sections of Iowa and Minnesota where rain has hurt crop prospects.
Listen to the Gulke’s complete analysis about those issues as well as increasingly dim spring wheat prospects in the Weekend Market Report:
Have a question for Jerry? Contact him at 815-721-4705 or firstname.lastname@example.org.