Weekend Market Report
Stay updated on grain markets with AgWeb’s Weekend Market Report by Jerry Gulke, president of the Gulke Group.
Did this week’s disappointment regarding the China summit top the grain markets for the year?
Jerry Gulke, president of The Gulke Group, says the market is anticipating additional purchases of U.S. soybeans to be announced at the summit, in addition to other agricultural products.
Jerry Gulke, president of The Gulke Group, says technically it is a very bullish to see grain markets making new highs for the year starting in May.
Corn futures scored a bearish lower weekly close for a second week and are now around 30 cents off the highs the market hit during the Iran war.
Jerry Gulke president of the Gulke Group says when a market reacts negatively to positive news that’s not a good sign.
Jerry Gulke, president of the Gulke Group, says the rally in crude oil is about global energy security but it has benefited the grain markets.
Jerry Gulke, president of the Gulke Group, says the recent strength in the corn market is not a result of the Iran war or higher corn prices, but a paradigm shift that happened 18 months ago.
Jerry Gulke, president of the Gulke Group, says while many analysts are pointing to the rally in crude oil and the war in Iran as the reason for the strong grain performance, he thinks the breakout was brewing long before that.
Many will attribute last week’s corn market rally to the cold weather and slowing grain movement from truck to barge. However, Jerry Gulke says the corn market has technically looked good for a while.