Weekend Market Report
Stay updated on grain markets with AgWeb’s Weekend Market Report by Jerry Gulke, president of the Gulke Group.
With the recent volatility and rhetoric affecting the markets, Jerry Gulke, president of the Gulke Group, picks up his column right where he left off.
USDA’s end-of-March Prospective Plantings report always brings a few surprises. This year will likely be the same.
The long corn/short bean spreaders were caught again leaning the wrong way and the exit door wasn’t big enough to let long corn folks out quick enough.
There are high odds the harvest lows for grain prices were made in July, yet the seasonals suggest otherwise.
In a relatively short time, corn and soybean prices have both gained $1 per bushel. This creates a decision-making opportunity.
With the price premiums for war, trade distortion, demand destruction and weather fully discounted in the July price collapse, it suggests the stars are still aligned for more fireworks.
With grain markets still at high levels, Jerry Gulke says you have to ask if the market is reflecting reality or if it sees something coming in the future.
Grain markets moved higher this week. July corn was up 46¢ and December corn was up nearly 31¢. July soybeans were up just over 48¢ while November soybeans were up 40¢. All wheat prices were up as well.
The week started out in a downward trend but ended on a high note due to continued planting delays and lower USDA crop projections.
Slow planting, inflation, next week’s USDA reports and more are impacting the markets. Jerry Gulke shares his outlook.