Weekend Market Report
Stay updated on grain markets with AgWeb’s Weekend Market Report by Jerry Gulke, president of the Gulke Group.
Jerry Gulke, president of The Gulke Group, says “If you look at the weekly chart it looks pretty bad. We’re a long way away from the highs set the first part of September.”
Jerry Gulke, president of The Gulke Group, says it is technically bearish to close below the lows the previous two months.
Jerry Gulke, president of The Gulke Group, says grain prices need to go low enough to be competitive and stimulate demand.
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.
Jerry Gulke, president of the Gulke Group, says the 20 cent losses in corn on Wednesday cost farmers raising 200 bu. an acre corn $40 an acre.
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.
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?