Weekend Market Report
Stay updated on grain markets with AgWeb’s Weekend Market Report by Jerry Gulke, president of the Gulke Group.
A big round of USDA reports this week ignited the grain markets.
The grain markets changed trend this week, thanks to a big round of USDA reports.
Stable crop conditions and some unexpected rains made grain prices drift lower this week.
A questionable weather forecast and a flash sale of soybeans to China helped commodities close higher this week, with the exception of November soybean prices.
Corn and soybean prices sank lower this week. Why? Several factors played in, says Jerry Gulke, president of the Gulke Group.
Contrary to last week, corn, soybean and wheat prices all found their footings and closed higher.
Grain prices saw improvement this week. December corn prices were up 10.25¢, for the week ending Sept. 17.
“In spite of some global economic headwinds and an open harvest week, the grain markets seem unphased,” says Jerry Gulke, president of the Gulke Group.
The markets reacted negatively to the Oct. 12 USDA reports. But prices regained some of their losses.
October is ending on a high note for the corn and soybean markets.