AgriTak PM: Midwest Moisture Puts Pressure on Corn, Soybean Prices Monday
Corn and soybean prices saw pressure on Monday as recent rains in the Midwest weighed on the market. Wheat futures also traded lower, falling to the lowest level in more than a month.
(AgWeb)
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Jerry Gulke, president of The Gulke Group, says it doesn’t matter whether farmers believe the USDA report or not because it’s what the market is trading.
Yield increase of 2.7 bu. per acre pushes carryout to 1.849 billion bushels, sending stocks-to-use back above 10%.
With corn and soybean yields in question and price rationing back on the table, Gulke says the farmers who treat volatility as the enemy — instead of the opportunity — are the ones left holding the top.
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