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 while he is short term bearish on corn his longer-term outlook is still bullish.
Jerry Gulke, president of the Gulke Group, says despite the volatility tied to tariffs, the corn and soybean markets closed only slightly lower for the week and Gulke was impressed at the reset off the lows that produced a hook reversal on the charts.
After several weeks of being bullish on corn, Jerry Gulke, president of the Gulke Group, bought protection against downside risk in the market. What changed his mind? It was signs he saw even before USDA released it’s corn acreage at the Ag Outlook Forum.
Jerry Gulke, president of the Gulke Group, thinks the corn market may just be taking a pause to refresh and he hasn’t changed his bullish stance. “I’m willing to have some patience,” he says.
Is it possible the wheat market is finally seeing the same paradigm shift that’s already taken place in the corn market? Jerry Gulke is watching several signals for an answer, including speculator activity in the wheat market.
Jerry Gulke, president of the Gulke Group, says grains took a pause Friday in preparation for the February WASDE but is in the critical price discovery process before planting.
Jerry Gulke, president of the Gulke Group, says corn and soybeans posted lower weekly closes, which was the first time in several weeks for corn. So is the bull market in corn over?
Corn, soybeans and wheat all closed higher for the week in the face of heightened uncertainty. Jerry Gulke, president of the Gulke Group, says to him that kind of resilience is an underlying sign of a bull market.
Jerry Gulke, president of the Gulke Group, says the strength in corn can pull the soybean markets and maybe even wheat higher for a handful of fundamental reasons.
Jerry Gulke, president of the Gulke Group, says as of Friday’s report, USDA has dropped corn ending stocks nearly 1 billion bushels from their initial estimate during the February 2024 Ag Outlook Forum when the agency projected carryout at 2.532 billion bushels based on trend-line yield.