Weekend Market Report
Stay updated on grain markets with AgWeb’s Weekend Market Report by Jerry Gulke, president of the Gulke Group.
For this week, May corn prices were up 18.25¢ and May soybean prices were up 1.75¢, for the week ending March 19. May wheat prices were down 12¢.
The markets continue to exercise caution ahead of the fourth and final big USDA report this month.
The grain markets posted another active week. May corn prices were up 9¢ and May soybean prices were up 30¢, for the week ending April 16.
Wow. This week saw corn prices top $6 and soybean prices top $15.
With the dry areas getting smaller and the wetter areas getting wetter, Jerry Gulke says the market is justified in removing weather premium from corn and soybeans.
The big market moves this week show just how tight the supply situation is for commodities, says Jerry Gulke, president of the Gulke Group.
The grain markets posted major moves this week. December corn prices were up 45.50¢ and November soybean prices were up 62¢, for the week ending June 4.
Right now, the grain markets are focused on the haves and the have nots. That is those areas that have received rain and those who have not.
The market moves this week give volatility a whole new meaning, says Jerry Gulke, president of the Gulke Group.
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.