Weekend Market Report
Stay updated on grain markets with AgWeb’s Weekend Market Report by Jerry Gulke, president of the Gulke Group.
On soybeans, Jerry Gulke says the 25 million bushel increase in carryout can easily be wiped out with the current weather issues potential cuts to South American production, plus increased export demand.
The strong close in soybeans reflects concerns about South American weather. If South American production drops 100 million bushels that makes U.S. ending stocks at 220 million bushels look tight, says Jerry Gulke.
This week’s price action in soybeans and soybean meal has many wondering if a South American weather market is starting early. Even China is taking notice.
The real question is: Should farmers wait for a more significant rally? Jerry Gulke says look at the carry in the market because it narrowed this week and determine if you can afford to pay commercial storage.
Jerry Gulke says the Middle East conflict bears watching and advises farmers to have their energy and fertilizer supplies in hand should the event turn into another war.
Should farmers store and try to capture the carry and more importantly will that carry be there in the future when it’s time for them to deliver? Jerry Gulke, president of the Gulke Group, is skeptical.
Jerry Gulke, president of the Gulke Group, says the most significant part of the report was the breakdown of who is holding the grain.
The corn market is turning stronger, says Jerry Gulke, while wheat was the first to reset and proceed like everything is normal, even though that’s not the case. When it comes to soybeans, there’s bad news and good news.
On the heels of the September WASDE report, Jerry Gulke details 9 points to help you understand and navigate the troubled waters ahead.
Corn and Soybean Markets Lower for the Week Awaiting Confirmation of Lower Yields in September WASDE
Jerry Gulke thinks the corn and soybean crops are getting smaller, and there’s a good chance for a bullish supply shock in the September WASDE report.