Jerry Gulke, president of the Gulke Group and Farm Journal’s Pam Fretwell discussed the events that helped the market to recover such as in the case for soybeans, a positive close for the week after a poor start.
Lackluster corn prices didn’t get any help from USDA’s latest yield and production estimates.
In today’s recap of the WASDE report, host Pam Fretwell sits down with Jerry Gulke, President of the Gulke, to talk about the numbers and what they mean not only for the immediate markets but prices going forward.
After the USDA released its World Agricultural Supply and Demand Estimates (WASDE) Thursday, corn and soybeans took the lead story away from wheat. Ending stocks for wheat for 2017/18 have been lowered 25 million bushels, the report citing increased exports as the cause.
Projected U.S. 2017/18 ending stocks are lowered 25 million bushels due to increased exports.
Soybean production is forecast at 4,425 million bushels, down 5 million due to a fractionally lower yield.
This month’s 2017/18 U.S. corn outlook is for larger production, increased feed and residual use and exports, and greater ending stocks.
According to the latest USDA Crop Production report, Corn production is down 4% from last year but up 2% from the October forecast. Soybean production is down less than 1% from October but up 3% from last year.
There was some red during the trading day on Tuesday, but in general the cattle markets have remained strong since Oct. 23.
For the past 25 years, scouts on the Farm Journal Midwest Crop Tour have been surveying fields in six states the third week of August. The goal is to gauge corn and soybean yield potential. This year, the corn crop was better than we expected, and the theme quickly became “no bull market for corn.”
In spite of better weather in South America, there hasn't been a real collapse in soybeans, says Jerry Gulke, president of the Gulke Group.
“Capturing carry” seems to be a popular catchphrase this year. How best do producers do that?
U.S. Agricultural Trade Office in Beijing took Chinese buyers on a reverse trade mission to North Dakota to see soybeans and soybean processing facilities there.
While we would like to see all major markets consuming and importing more dairy, the health of the global dairy market relies on a strong China—which is why this year’s purchase patterns have been such a welcome development.
The U.S. economy had the fastest six-month growth period sine 2014, between quarter two and three, according to a new report from the Bureau of Economic Analysis. During the third quarter, the gross domestic product (GDP) increased 3 percent, just shy of 3.1 percent in quarter two.
It’s the same stale story—corn prices are flat and there’s still a lot of crop in storage.
The market is still months from focusing on 2018/19 U.S. corn export potential, but the level of competition for those exports is being determined (in part) right now.
There hasn’t been a lot of action in the soybean market, and some analysts are talking about a potential bull run that could come down the pipeline.
As harvest rolls on, markets are struggling for direction but the good news, says Jerry Gulke, president of the Gulke Group, is they are still supportive.
Soybeans seem to be stealing the limelight from corn, but it’s an easy thing to do when corn has been trading sideways for several months.