Weekend Market Report
Stay updated on grain markets with AgWeb’s Weekend Market Report by Jerry Gulke, president of the Gulke Group.
The losses the past seven to 10 days have cost farmers dearly, says Jerry Gulke. When fundamentals don’t influence prices the way we’ve come to expect, he says it’s time to look behind the scenes.
So often with big USDA reports, it’s not so much what the numbers say, but how the markets react to close out the week.
2021 has rolled out the red carpet for grain producers. March corn prices were up 12.5¢ and March soybean prices were up 66.25¢ for the week ending Jan. 8.
The grain markets continue their steady march upward. March corn prices were up 34.25¢ and March soybean prices were up 41.75¢ for the week.
The grain markets took a hit this week. March corn prices were down 29.25¢ and March soybean prices were down $1.05 for the week ending Jan. 22.
After a rough week last week, grain prices have rebounded. March corn prices were up 46.75¢ and March soybean prices were up 56¢ for the week ending Jan. 29. March wheat prices were up 28¢.
March corn prices were up 1.25¢ and March soybean prices were down 2¢ for the week ending Feb. 5. March wheat prices were down 19.50¢.
March corn prices were down 9¢ and March soybean prices were up 6¢ for the week ending Feb. 12. March wheat prices were down 3.25¢.
March offers a big lineup of USDA reports. Each will offer key insights to big market questions.
As the saying goes, a bear only needs to eat once a year and the bull needs to eat every day. This week, grain prices drifted lower.