With indecision and a basic sideways trading range for the past few weeks, the upcoming USDA reports on Oct. 12 will be met with apprehension due to the uncertainty in the grain markets right now, according to Jerry Gulke, president of the Gulke Group. This report could take the market either direction, he says.
However, because USDA delivers this report midweek, there’s a chance we could see new highs if demand is better than previously expected. For soybeans, that has already been the trend for the past several months, Gulke says.
“It’s not going to be so much what’s in the market report, but how is the market going to react to it,” he says.
Listen to Jerry Gulke’s full commentary below.
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