Markets - General
Grain markets go through three stages: greed, hope and fear. With two weeks of lower prices, the markets could be headed to the fear stage, says Jerry Gulke, president of the Gulke Group.
The annual Acreage and quarterly Grain Stocks reports are historically market movers. Read our pre-report coverage and analysis below.
The price rally that started in the fall of 2020 definitely attracted more corn acres in 2021. That was confirmed in USDA’s June Acreage report.
A big round of USDA reports this week ignited the grain markets.
The grain markets changed trend this week, thanks to a big round of USDA reports.
Stable crop conditions and some unexpected rains made grain prices drift lower this week.
A questionable weather forecast and a flash sale of soybeans to China helped commodities close higher this week, with the exception of November soybean prices.
Contrary to last week, corn, soybean and wheat prices all found their footings and closed higher.
“We’re significantly off the highs of the year, and it may be turning more negative depending upon what the report says next week,” says Jerry Gulke, president of the Gulke Group.
Grain prices saw improvement this week. December corn prices were up 10.25¢, for the week ending Sept. 17.