Soybeans rallied to a three-month high this week, making it almost to the levels last seen before USDAs bearish reports found more soybeans in its Jan. 12 report, then weakened toward the end of the week as traders took profits. I dont know why anyone would consider them worth more now than before that report, given larger crops and the certainty of the huge South American crops. Were also nearing the point where South American farmers know what their crops are and will be more aggressive selling, says Jerry Gulke of the Gulke Group.
Listen in for Gulkes full week-end comments and for his weekly chart updates, e-mail Ashley@GulkeGroup.com.
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