We could see long, sleepy markets for a while, says Jerry Gulke, in response to USDA's April 9 supply and demand reports.
"It seems supply has caught up with demand for wheat, corn and soybeans.” Looking ahead, the next possible surprise might be finding more soybean and fewer corn acres, he believes. "I can get $3.15 cash for fall corn in Rockford (Ill.) right now. Plug that into my budget and it doesn't work too well,” says Gulke. "On the other hand $885.-$9 for beans does.”
Listen to Jerry's full commentary:
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