Markets - General
Livestock markets rounded out last week’s trade with a higher close. Thanks to a strong fundamental backdrop, that has propelled futures higher yet again. How much more upside is left?
Jerry Gulke, president of the Gulke Group, says there are several factors that indicate to him the chance to rally old crop corn to $5 is over.
Equity markets had a strong finish to the month of April which spilled into strength to start May, thanks impart to strong earnings from a few tech giants. Gold and oil have slid lower over the last few sessions while grain and livestock markets remain choppy.
Total Farm Marketing’s Naomi Blohm says based on her research, corn growers will likely have an opportunity to lock in better corn prices over the next few months.
Grain futures were under pressure overnight, with corn retreating back to a cluster of major moving averages. Will technical support hold or giveaway?
Jerry Gulke, president of the Gulke Group, says, “Soybeans have been the surprise and there are several factors that have allowed that market to remain resilient.”
Corn, beans, and wheat were able to see some strength into Thursday afternoon’s trade while livestock markets seemed to struggle to find conviction on direction.
Shell Rock, Iowa, farmer Jeff Reints started planting corn on April 8 — the earliest ever on his farm. He got 50% of his corn and soybeans in the ground before 3 inches of rain parked the planters.
Ocean shipping transports about 80% of global trade — from coal and corn to bananas and cement. The revisions tackle major concerns from the global maritime industry that feared virtually every cargo carrier could face steep, stacking fees.
Grain markets saw minor pressure in Thursday’s trade. Are technical support levels at risk?