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 the lower monthly close is especially significant because corn also failed to close above the April high.
Last week Jerry Gulke, president of The Gulke Group, predicted the highs had been made in the grain markets on May 13. After reading the White House fact sheet on the China trade framework, he says he hasn’t changed his mind.
Did this week’s disappointment regarding the China summit top the grain markets for the year?
Jerry Gulke, president of The Gulke Group, says the market is anticipating additional purchases of U.S. soybeans to be announced at the summit, in addition to other agricultural products.
Jerry Gulke, president of The Gulke Group, says technically it is a very bullish to see grain markets making new highs for the year starting in May.
Corn futures scored a bearish lower weekly close for a second week and are now around 30 cents off the highs the market hit during the Iran war.
Jerry Gulke president of the Gulke Group says when a market reacts negatively to positive news that’s not a good sign.
Jerry Gulke, president of the Gulke Group, says the rally in crude oil is about global energy security but it has benefited the grain markets.