For the past three months, the corn-price ship has been barreling straight ahead, trading in a fairly narrow sideways trend. But, that ship took a positive turn, says Jerry Gulke.
Decent growing conditions in the west stand in contrast to wet conditions in the east, meaning corn yields won’t be ideal across the board this year, says Jerry Gulke of the Gulke Group.
As the May planting window draws to a close, Mother Nature is taking the driver’s seat away from the Chicago Board of Trade. Jerry Gulke explains.
Corn prices didn’t shift direction too much with currency challenges in Brazil, but soybean prices dipped lower with questions emerging about total acreage this year, says Jerry Gulke, president of the Gulke Group in Chicago.
The presence of empty fields throughout northern Illinois and a projected storm system during the week of May 14 suggests some Corn Belt farmers might be forced to switch to soybeans, says Jerry Gulke, president of the Gulke Group.
Weather challenges remain a concern for corn plantings but didn’t dramatically shape USDA’s latest reports, while demand for soybeans is stronger than expected, says Jerry Gulke, president of the Gulke Group.
The marketplace appears to be buying time until more information on wheat quality and corn replanting is available, says Jerry Gulke, president of the Gulke Group.