Weekend Market Report
Stay updated on grain markets with AgWeb’s Weekend Market Report by Jerry Gulke, president of the Gulke Group.
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.
From planting delays to governmental influence, the grain markets are being impacted by a plethora of factors.
Price discovery suggests price will go high enough until demand is curbed sufficiently so we will not run out of stocks, but someone(s) might have to use less.
This week corn prices topped $8 per bushel and soybean prices topped $17 per bushel. With slow planting progress, these prices could be trying to attract or commit acres to certain crops.
The grain markets posted another healthy week of higher prices. But are these prices getting too high?