This was quite an exciting week, with charts posting buy signals, says Jerry Gulke of the Gulke Group. "The week ended with gold and crude oil down and the dollar up—all of which would make you think the grains would be down as well, but that's not the case.”
The price rises logged by wheat, corn and soybeans also fly in the face of "a world awash in supplies and almost certainty of more corn acres with planting proceeding rapidly—we could be finished planting by the time we got started last year,” says Gulke. If the volcanic ash covering the planet from Iceland brings a "year without a summer”—cooler than usual temps, we could see new record corn yields, he believes.
Listen to Jerry's commentary for the full story and his thoughts on sales.
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