The echoes from last Friday’s USDA Crop Production Report are still rippling through the markets, says says Jerry Gulke, president of the Gulke Group. “We are at a new focus from this week going forward.”
Very few people, if any, believed USDA would lower the yields for corn as they did. “One day we had too much grain, then the next day we had not enough.”
Gulke says the market has been using Monday as a baseline to try to digest what all happened and if we can reduce corn demand enough to be sufficient.
He says the market has a good handle on the demand side of the equation, but the supply side is a moving target. “Each week we are going to be looking at the weekly exports to see if there’s any hint at all if exports have fallen off.”
Hear Gulke's full analysis: