Will harvest pressure be a no-show again this season?
As farmers near the homestretch of harvest, the anticipated corresponding market price pressure is nowhere to be found this year, other than basis widening. Despite corn and soybeans closing lower on Friday, they still closed higher on the week, and that’s pretty good going into so-called harvest pressure, says Jerry Gulke, president of the Gulke Group.
Wheat was the only grain to move lower. Even cattle made positive movement to end the week up despite being down on the day.
Now, the “$64,000 question,” Gulke says, is what will farmers do with the remaining 10% of harvest? Will they sell it or store it? How are elevators and traders preparing for what might amount to overflowing bins and piles of grain?
Listen to Jerry Gulke’s full commentary: