Weekend Market Report
Stay updated on grain markets with AgWeb’s Weekend Market Report by Jerry Gulke, president of the Gulke Group.
The situation in the grain markets this spring looks much different than a year ago, says Jerry Gulke, president of Gulke Group. Unfortunately, the picture is not as price positive for the 2023 crops.
The grain markets are focused on planting progress — or the lack thereof. Jerry Gulke says the markets are building in weather premium as progress could see delays periodically especially in northern areas.
Sometimes it isn’t a matter of what direction prices are headed but where they are not headed. USDA has shaved demand, especially in corn. The long-term outlook might show corn prices have lower targets yet to come.
Technically speaking the price action of Chicago, Kansas City and Minneapolis wheat varieties are signaling a change is coming — one that might not be recognized until the price ship has sailed.
The value of capital assets and cash flow were concerns in 2008 — just as they are today. The evolution of dealing with inflation has yet to impact ag directly, but history shows a wake-up call is in process.
Following the bearish report on Wednesday, grain markets closed higher for the week, which, according to Jerry Gulke, signals the market might believe there is more downside to yield.
USDA’s June Acreage and Quarterly Stocks reports resulted in a bullish surprise for soybeans and bearish news for corn. In an already volatile grain market, the supply situation is problematic.
Corn and soybeans are in a full-blown weather rally. After a sharply higher week, what should farmers watch for to decide when to market their crops?
After a volatile week, Jerry Gulke was encouraged corn and soybeans closed higher Friday and near session highs. That tells him the weather market, which is still in its early stages, hasn’t run out of steam.
Jerry Gulke, president of the Gulke Group, says the rally was both a weather and a technical recovery. The key is how long will the rally last and how should farmers position themselves in the market?