MARKETS
Jerry Gulke, president of the Gulke Group says at the same time the latest CFTC Commitment of Traders report showed the large speculator adding to their net long positions in corn and soybeans and have been extending that position since the week of July 6.
Joe Kooima of Kooima Kooima Varilek says while last week’s higher weekly closes send a strong signal a bottom is in place in the cattle market, he’s not ready to say funds will be piling back in to buy yet.
Jerry Gulke president of The Gulke Group says it isn’t surprising to see profit taking in the soybeans with the funds holding a near record long position.
Jerry Gulke, president of the Gulke Group, has been fielding questions from farmers wanting to know how long the explosive rally could last and how high prices could run?
Data shows soybean crush and renewable diesel output are hitting all-time highs, driven by strong domestic biofuel policy, while new U.S. tariffs on Brazilian tallow add fresh demand in the biofuel feedstock market.
Joe Kooima, Kooima Kooima Varilek says the question is whether or not a bounce in the cattle can hold or if funds will use it to exit more of their long positions.
Brooke Rollins’ intent addresses a paramount question of U.S. national food security: Who decides what a crop is worth?
Jerry Gulke, president of the Gulke Group, says in a bull market it can be difficult to know whether to hold or sell because it can get volatile and emotional.