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 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.
Pro Farmer confirms record soybean crop and bumper corn crop. What does that mean for the harvest and post-harvest outlook for the market?
A lackluster WASDE report had the same effect on the markets this week. Jerry Gulke, president of the Gulke Group, doesn’t think there’s going to be a whole lot of change in acreage in USDA’s report at the end of June.
“It’s like farmers threw in the towel after getting sick of waiting for better prices or realized they’re going to need bin space,” says Jerry Gulke. He shares four points that might mean lower prices aren’t over yet.
Gulke says, all of the winter predictions for the grain and oilseed market haven’t come true. “So suddenly we’ve kind of turned upside down to where conventional wisdom was almost 98% wrong.,” he says.