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 the weekly continuation chart corn is trading above the October high, the 50-day and the 200-day moving average. “The chart is telling us to have a little patience in this uptrending market,” he adds.
Jerry Gulke, president of the Gulke Group, says after the 200 million bushel cut to corn ending stocks in the December WASDE he wonders if USDA is preparing the marketplace for more of the same in the final January report?
The first full week of trading in December can be enlightening and Gulke Group president Jerry Gulke says this year is no exception, especially after the 2024 election. However, he thinks the bulk of the bearish news may be priced into the corn market.
Jerry Gulke, president of the Gulke Group, says the election might have brought about a paradigm shift in the approach to agricultural policies.
Jerry Gulke, president of the Gulke Group, says as harvest wraps up it is a good time to review the year’s markets.
Jerry Gulke, president of the Gulke Group, says price performance might have been a little disappointing but that’s because of USDA’s lofty ending stocks estimates at nearly 2 billion bushels for corn and 550 million bushels for soybeans.
“The bottom line is the function of the market — when you have too much, you become the cheapest seller, not necessarily the cheapest producer,” says Jerry Gulke.
The October WASDE effectively solidified the supply side of the U.S. corn and soybean balance sheets for the 2024-25 marketing year, though Gulke was surprised USDA didn’t raise yields because harvest has never been so good on his farm.
Jerry Gulke, president of The Gulke Group, thinks the party is over in the grains, at least for now, due to several key factors.
Jerry Gulke, president of the Gulke Group, says new crop corn and soybean charts are signaling the September WASDE might be bearish and confirm the large crop size.