The grain markets took sizeable hits this week. December corn prices were down 6¢ and November soybean prices down nearly 25¢ for the week ending Aug. 7. September wheat prices
The ethanol mandate is wounded and there isn’t a 5-billion-bushel mandate on the horizon.
Ample rain causing good spots to grow and dry spots to shrink is sending grain prices lower.
Weather, relations with China and export sales all weighed on the grain markets this week, says Jerry Gulke, president of Gulke Group.
The grain markets started out on a negative note this week but clawed their way back. For the week, December corn prices were down 4.25¢, November soybeans were up 5¢
The grain markets had many heavy forces at play this week. A USDA report, comments from President Donald Trump and a changing weather forecast all weighed on prices.
The grain markets needed a shock, and the USDA reports this week delivered. The June 30 Acreage and Grain Stocks reports provided a major lift to prices.