Beans were down for the week, off new highs but closing lower than a week ago which gave us some technical signals. That’s important says Jerry Gulke, president of the Gulke Group, here's why.
What should have been good news for the grain and oilseed markets ended up having the opposite effect as we ended the week down, sharply down some cases says Jerry Gulke, president of the Gulke Group.
Between realizing crop shortfalls in South America, a weaker dollar and weather uncertainties, prices for the month of April are up 35 cents for corn to near $4 for corn and $1.10 higher in soybeans back above $10. But the benefit for grain farmers is making it more expensive for cattle feeders.
“The bottom line is that we ended an era and started a new one,” said Jerry Gulke, president of the Gulke Group in Chicago, speaking on Farm Journal Radio with Pam Fretwell. “We’ve ended 10 years of zero interest rates. ... That rodeo is over.”