Weekend Market Report
Stay updated on grain markets with AgWeb’s Weekend Market Report by Jerry Gulke, president of the Gulke Group.
Corn and Soybean Markets Lower for the Week Awaiting Confirmation of Lower Yields in September WASDE
Jerry Gulke thinks the corn and soybean crops are getting smaller, and there’s a good chance for a bullish supply shock in the September WASDE report.
Jerry Gulke thinks USDA will have to lower yields in its next report. He also says he hasn’t seen a late-season weather market like this since 1988.
Row crops post higher weekly closes and could be confirming a short-term low as the market continues to determine yield.
USDA’s dance continues after the agency makes cuts to yields, production and ending stocks in the August reports.
The grain markets had several drivers this week, including daily reports from the Pro Farmer Crop Tour, more big purchases from China and continued uncertainty of the crop damage in Iowa.
The losses the past seven to 10 days have cost farmers dearly, says Jerry Gulke. When fundamentals don’t influence prices the way we’ve come to expect, he says it’s time to look behind the scenes.
So often with big USDA reports, it’s not so much what the numbers say, but how the markets react to close out the week.
2021 has rolled out the red carpet for grain producers. March corn prices were up 12.5¢ and March soybean prices were up 66.25¢ for the week ending Jan. 8.
The grain markets continue their steady march upward. March corn prices were up 34.25¢ and March soybean prices were up 41.75¢ for the week.
The grain markets took a hit this week. March corn prices were down 29.25¢ and March soybean prices were down $1.05 for the week ending Jan. 22.
After a rough week last week, grain prices have rebounded. March corn prices were up 46.75¢ and March soybean prices were up 56¢ for the week ending Jan. 29. March wheat prices were up 28¢.
March corn prices were up 1.25¢ and March soybean prices were down 2¢ for the week ending Feb. 5. March wheat prices were down 19.50¢.
March corn prices were down 9¢ and March soybean prices were up 6¢ for the week ending Feb. 12. March wheat prices were down 3.25¢.
March offers a big lineup of USDA reports. Each will offer key insights to big market questions.
As the saying goes, a bear only needs to eat once a year and the bull needs to eat every day. This week, grain prices drifted lower.
For this week, May corn prices were up 18.25¢ and May soybean prices were up 1.75¢, for the week ending March 19. May wheat prices were down 12¢.
The markets continue to exercise caution ahead of the fourth and final big USDA report this month.
The grain markets posted another active week. May corn prices were up 9¢ and May soybean prices were up 30¢, for the week ending April 16.
Wow. This week saw corn prices top $6 and soybean prices top $15.
With the dry areas getting smaller and the wetter areas getting wetter, Jerry Gulke says the market is justified in removing weather premium from corn and soybeans.
The big market moves this week show just how tight the supply situation is for commodities, says Jerry Gulke, president of the Gulke Group.
The grain markets posted major moves this week. December corn prices were up 45.50¢ and November soybean prices were up 62¢, for the week ending June 4.
Right now, the grain markets are focused on the haves and the have nots. That is those areas that have received rain and those who have not.
The market moves this week give volatility a whole new meaning, says Jerry Gulke, president of the Gulke Group.
Grain markets go through three stages: greed, hope and fear. With two weeks of lower prices, the markets could be headed to the fear stage, says Jerry Gulke, president of the Gulke Group.
A big round of USDA reports this week ignited the grain markets.
The grain markets changed trend this week, thanks to a big round of USDA reports.
Stable crop conditions and some unexpected rains made grain prices drift lower this week.
A questionable weather forecast and a flash sale of soybeans to China helped commodities close higher this week, with the exception of November soybean prices.
Corn and soybean prices sank lower this week. Why? Several factors played in, says Jerry Gulke, president of the Gulke Group.