Weekend Market Report
Stay updated on grain markets with AgWeb’s Weekend Market Report by Jerry Gulke, president of the Gulke Group.
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.
Jerry Gulke, president of the Gulke Group, says in the report USDA finally rectified the old crop corn carryover figure trimming it by 100 million bushels with an increase in demand.
Corn, soybean and soybean meal futures posted higher weekly closes, but it’s hard to predict how far the grain markets could rally, says Jerry Gulke. “Now it becomes more of an art than a science,” he adds.
Gulke Group president Jerry Gulke explains why he made the last-minute decision to switch 200 acres of corn to soybeans.
Despite being lower for the week, the grain markets all closed higher on Friday and might have been putting in risk premium says Jerry Gulke, president of the Gulke Group.
Commodity and financial markets saw another volatile week. What’s triggering it? Jerry Gulke, president of the Gulke Group points to a couple possible clues.
Markets get overextended and need to equalize, says Jerry Gulke, president of The Gulke Group. “The stock market got too high and is correcting, and grains got too low and might be in the same process,” he explains.