Jerry Gulke, president of the Gulke Group, says the rally was both a weather and a technical recovery. The key is how long will the rally last and how should farmers position themselves in the market?
A quick planting pace and the possible return of El Niño meant traders have not been focusing on any weather issues. However, with drought continuing to expand, a U.S. weather market might be back in play.
Jim Rotherich, an Iowa land appraiser, says farmland values started out strong in 2023, but he's seen a noticeable shift the past two months due to input prices, interest rates and commodity markets.
The past several days have been a roller coaster with both bullish and bearish news for the wheat market. Arlan Suderman of Stone X Group says there are still several things that could spark momentum in the wheat market.
Despite the positive sentiment, local community bankers report concerns about lower commodity prices, the ‘big bank mess’ and another potential rate hike in June by the Fed.
