Weekend Market Report
Stay updated on grain markets with AgWeb’s Weekend Market Report by Jerry Gulke, president of the Gulke Group.
The financial industry was hit with a black swan due to the shuttering of two high-profile banks. This has implications for ag markets and lessons for farmers, says Jerry Gulke of Gulke Group.
The acreage numbers were not too surprising, says Jerry Gulke, president of Gulke Group. What held a bigger punch was the demand picture.
The grain markets had a good week, with prices up across the board.
“It’s been a quiet week except for wheat,” says Jerry Gulke, president of Gulke Group. “Wheat has some promise, but we’ll have to see what happens in Ukraine and also with the weather.”
Prices are flat to lower this week, with March corn prices up a penny, and March soybean prices down 21¢ for the week ending Jan. 20. Wheat prices were down a few cents.
The Jan. 12 USDA reports held positive surprises for grain prices. March corn prices were up 20¢, and March soybean prices were up 35¢ for the week ending Jan. 13. Wheat prices were flat to up 11¢.
What will the cash value of money today be worth down the road at 5%, 6% or 7%, especially if made with borrowed money?
It’s still too early to tell the long-term impacts for farmers with EPA’s proposal for renewable fuels, says Jerry Gulke. But the short-term effect was a price drop.
From rate hikes to global recession fears to pathetic exports, many issues softened the grain markets this week. Gulke Group’s Jamie Wasemiller shares his analysis.
Jerry Gulke provides his take on the market reactions to the G-20 meeting with China.