Weekend Market Report
Stay updated on grain markets with AgWeb’s Weekend Market Report by Jerry Gulke, president of the Gulke Group.
Jerry Gulke, president of the Gulke Group, says some in the market attributed the recovery to short covering but he thinks a some significant trade developments also played a role, as well as the upcoming USDA reports.
Jerry Gulke, president of the Gulke Group, says the news EPA is raising blending mandates for biomass-based diesel above expectations came as a surprise but was positive for farmers and the biofuels industry.
Jerry Gulke, president of the Gulke Group, says the gains were impressive considering the ongoing uncertainty regarding weather, trade and the geopolitical environment.
The grain markets were lower for the week, except for hard red spring wheat. Jerry Gulke, president of the Gulke Group, says he thinks the pressure was largely in response to this week’s surprising trade developments.
After turning bearish last week, Jerry Gulke, president of the Gulke Group, says he watched the markets all rally without a real fundamental reason for the move.
Jerry Gulke, president of the Gulke Group, says there are several factors that indicate to him the chance to rally old crop corn to $5 is over.
Jerry Gulke, president of the Gulke Group, says, “Soybeans have been the surprise and there are several factors that have allowed that market to remain resilient.”
Jerry Gulke, president of the Gulke Group, says the April WASDE confirmed the tighter balance sheets he had been expecting for several reports but that’s just the start of the bullish news.
Jerry Gulke, president of the Gulke Group, says one of the markets that was able to cut through the tariff noise and end higher for the week was corn.
Based on decades of experience, Jerry Gulke, president of the Gulke Group, is bracing for a big surprise in USDA’s Prospective Plantings Report on March 31.