After a fairly neutral January USDA report, the market is still digesting the updated numbers released. Soybeans, however, did see a key reversal, but the real shocker was the increase in wheat acres, says Jerry Gulke, president of the Gulke Group.
“I thought for sure we’d see a reduction in wheat acres,” he says.
The report didn’t have much of a fundamental impact on the market as in years prior, though.
“Hope springs eternal,” Gulke says, “and now we look at weather and what we’re going to plant.”
Listen to Jerry Gulke’s full commentary on the USDA reports’ impact, the collapsing U.S. dollar and stock markets “going crazy” in this week’s Weekend Market Report.
Get more market insight from Jerry Gulke at the 2018 Top Producer Seminar January 23-26 in Chicago.
Attend the 2018 Top Producer Seminar
When: Jan. 23–26
Where: Hilton Chicago Hotel Downtown 720 S. Michigan Ave.
What: Welcome reception on Tuesday, Jan. 23 with Trust In Food™ Symposium attendees; business education and Top Producer of the Year banquet on Wednesday, Jan. 24; “U.S. Farm Report” taping and business education with lunch keynote on Thursday, Jan. 25; and sponsor breakfast followed by two mainstage presentations on weather and the global ag economy on Friday, Jan. 26.
To register or for additional information about this year’s conference, visit TopProducerSeminar.com.
Thanks to our 2018 Top Producer Seminar Sponsors!
Premier Sponsors: Agrium (ESN), BASF, Bayer, Beck’s Hybrids, Case IH, Channel, Dow AgroSciences, John Deere, KCOE ISOM, DuPont Pioneer, Top Con, Top Third Ag Marketing, Valent
Co-Sponsors: CliftonLarsonAllen, CropZilla, Farmers Business Network, Farmers Edge, Rabo AgriFinance
Supporting Sponsors: Advance Trading, AgYield, BMO Harris, Farm Credit, Roach Ag, Richiger, Transition Point Business Advisors