It was an exciting week in the markets, says Jerry Gulke of the Gulke Group. "China came into the market and that's a big psychological factor.” Meanwhile, chart action suggests the bottom may be in, he says. "It feels a lot like the market did just before the big run-up in corn prices the last time.”
One lesson learned then was that end users need to have some protection in place and not assume a big crop is on the way and prices will fall into harvesttime.
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Listen to Jerry's comments for more on why the bottom may be in.