Wasemiller: Rough Week for Exports, Trade Awaits USDA Numbers

January 6, 2018 05:06 AM
 
 

Due to the holiday season, export sales were delayed and the significant number of cancellations were concerning, says Jamie Wasemiller of the Gulke Group.

“We had a big surprise this week, corn exports were actually down 92% from the previous week … we did see some significant cancellations within there, which sometimes does happen,” Wasemiller says. “It had me concerned and Jerry [Gulke], as well.”

Historically, drops in exports this time of year is not uncommon; however, the drop in corn was staggering this week when compared to last week. Fortunately, it didn’t impact markets much as we ended the week but it could affect the upcoming USDA export numbers on Friday, Jan. 12.

In the soybean market, concerns around South American growing conditions continue, which is currently supportive to bean prices.

Listen to Jamie Wasemiller’s full commentary plus hear his crop insurance recommendations for 2018 on this week’s Weekend Market Report with Pam Fretwell.

 

Gulke will be the closing keynote speaker at the 2018 Top Producer Seminar, which takes place Jan. 23-26 in Chicago. His presentation, titled, "Looking Beyond Our Backdoor: Today’s Grain Markets" will be moderated by Fretwell and will provide his expert market commentary and insights. Reserve your spot now. Register at www.TopProducerSeminar.com

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Comments

 
Spell Check

Jimbo James
Camp Post, IA
1/11/2018 09:41 PM
 

  I agree with CK. Time to have set a side and govt. storage. Tired of hearing how farmers have to produce at full tilt to feed the world. This only leads to over production and cheap food for everyone else. Time to start the tractor parades to the state cap. And D C as well. LDP's would be good to see as well. Made a lot of money on that game.

 
 
C.K
bad axe, MI
1/6/2018 07:32 AM
 

  We don't need exports and prices Jamie we have what's called the credit market in this country we just keep borrowing are way to prosperity . Seams to be working , everyone's punch drunk on it. $15,000.00 acre farm land in US, $300.00 to $1,000.00 per acre in south America and Russia . John Deere and CIH there exports can't be better, making big money in low imput cost countries like south America and Russia . Look on the bright side there is always social security disability benefits to get on like half the neighbors , and rent what land you can save to the levered up producer down the road.

 
 

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