The week started out in a downward trend but ended on a high note due to continued planting delays and lower USDA crop projections.
Unprecedented U.S. weather conditions, export numbers and USDA’s Ag Outlook Forum all weighed on prices this week, says Jamie Wasemiller, market analyst with Gulke Group.
The grain markets continue their steady march upward. March corn prices were up 34.25¢ and March soybean prices were up 41.75¢ for the week.
Commodity prices have dipped down to levels that haven’t been seen in more than a decade.
Price discovery has changed materially. This has given rise to questioning even the CME and the futures industry.
The reports held both good news and bad news, says Jerry Gulke president of the Gulke Group.
"In a report that was supposed to answer all the questions, it gave us a lot more questions than answers,” says Jerry Gulke, president of Gulke Group.