The Odessa Record -

Articles written by Pearson Burke

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 By PEARSON BURKE    Opinion

Market Perspective

Recently wheat markets have been trying to find a bottom along with the rest of the grain markets. The driving force behind the sell-off that began in December has been the rally in the U.S. Dollar which recently reached 11 year... — Updated 2/24/2015

 
 By PEARSON BURKE    Opinion

Market Perspective

Over the last month and a half the grain markets have been on quite a roller coaster along with other financial markets, with a ripple effect occurring from sharply lower oil prices. Overproduction of oil and Saudi Arabia's... — Updated 1/7/2015

 
 By PEARSON BURKE    Opinion

Market perspective

Wheat markets have continued their recent rally which started at the end of September. Wheat futures have rallied more than $.70 from their lows. Corn futures have risen $.50 off their lows. The cash markets have also moved higher... — Updated 11/5/2014

 
 By PEARSON BURKE    Opinion

Market Perspective

Wheat markets have enjoyed a little bit of a bounce over the last 10 days. Cash markets are about $.20 off their lows and future markets are about $.30 off their lows. Part of it has been a correction from oversold technical... — Updated 10/15/2014

 
 By PEARSON BURKE    Opinion

Market Perspective

Wheat markets, especially the futures markets, have remained under pressure the last few weeks. Increasing world supplies, a record upcoming corn harvest and a stronger U.S. dollar have encouraged speculative funds to increase thei... — Updated 10/3/2014

 
 By PEARSON BURKE    Opinion

Market Perspective

By PEARSON BURKE Wheat markets continue to consolidate. On the charts, Chicago wheat has formed a double bottom; we will see if that holds. If so, then the downtrend has been broken and at least a sideways pattern can be expected.... — Updated 8/20/2014

 
 By PEARSON BURKE    Opinion

Market Perspective

Grain markets continue to feel the pressure from export competition for wheat sales and impending large corn and soybean crops. The last couple of USDA Crop Reports have done nothing to break the downward trend that the grain... — Updated 7/16/2014

 
 By PEARSON BURKE    Opinion

Market Perspective

The wheat markets have been in a hard correction ever since the May USDA Crop Production Report came out a month ago. Before that the market experienced a strong rally supported by the deteriorating crop conditions of the Hard Red... — Updated 6/5/2014

 
 By PEARSON BURKE    Opinion

Market Perspective

The rally in the wheat market marches on as the two main reasons for this contra seasonal rally continue to support prices. First, the drought and now record high temperatures in the Southern Plains continue to stress the winter... — Updated 5/7/2014

 
 By PEARSON BURKE    Opinion

Market Perspective

The weather market has begun in earnest. Over the last month the futures have had quite a few twenty cent trading sessions. Some has been due to the continuing confrontation between Russia and the Ukraine, but most of it has been d... — Updated 4/23/2014

 
 By PEARSON BURKE    Opinion

Market Perspective

The wheat market has continued to rally over the last three weeks, resulting in marketing year highs for both old and new crop prices. New crop prices are now at higher levels than what most people sold this year's crop. When... — Updated 3/26/2014

 
 By PEARSON BURKE    Opinion

Market Perspective

The rally in grains has continued over the last two weeks. Dry conditions in the Southern Plains and decent export demand have finally forced the speculative commodity funds to cover about half of their record short position in... — Updated 2/26/2014

 
 By PEARSON BURKE    Opinion

Market Perspective

Wheat markets finally reacted positively after a USDA Crop Report. Monday's report showed a 50 million bu decrease in carryovers from the January report due to a long anticipated increase in wheat exports of 50 million bu as well... — Updated 2/18/2014

 
 By PEARSON BURKE    Opinion

Market Perspective

Wheat markets continue to wander in their winter doldrums. The futures are trying to find a bottom but the commodity funds continue to press the short side with speculative funds now holding close to a 500 million bu net short. On... — Updated 1/29/2014

 
 By PEARSON BURKE    Opinion

Market Perspective

On Tuesday the USDA released its December Crop Production Report. On the wheat side, the only overall adjustment made to the U.S. table from last month was an increase in wheat exports of 10 million bu. That raised U.S. wheat... — Updated 12/11/2013

 
 By PEARSON BURKE    Opinion

Market Perspective

White wheat cash markets firmed last week despite slightly lower futures and in the face of the Australian and Argentine wheat harvests. Export sales picked up with a total of 4.9 million bu in white wheat sales for the week... — Updated 11/27/2013

 
 By PEARSON BURKE    Opinion

Market Perspective

By PEARSON BURKE During the government shutdown the USDA did not release any reports including the October Crop Production Report. Last Friday the USDA did release its November Crop Production Report. Traders were anticipating a... — Updated 11/13/2013

 
 By PEARSON BURKE    Opinion

Market Perspective

Over the last couple of weeks, wheat markets continued their upward trend, supported by strong export sales, particularly to China and Brazil. News of more crop concerns in Argentina, as another cold snap and another reduction in... — Updated 10/23/2013

 
 By PEARSON BURKE    Opinion

Market Perspective

This Monday, the USDA released its Stocks and Acreage Report. The biggest numbers in the report were the corn stocks, as of September 1, which totaled 824 million bu. That was higher than any of the pre-report estimates. The other... — Updated 10/2/2013

 
 By PEARSON BURKE    Opinion

Market Perspective

Last Thursday the USDA released its September Crop Report. With the hot, dry weather the cornbelt has experienced over the last month and the 2-3% decline each week in the condition of the corn crop, the question was how much... — Updated 9/18/2013

 
 By PEARSON BURKE    Opinion

Market Perspective

Over the last month the price of wheat has been in a fairly narrow trading range. That relative calm has belied some of the powerful forces that have been influencing the grain markets both globally and locally. The futures markets... — Updated 8/28/2013

 
 By PEARSON BURKE    Opinion

Market perspective

The grain markets have been in a downtrend for the last couple of months, pressured by very favorable weather in the central U.S. and continued selling by speculative funds. Traders were surprised that in the July crop report USDA... — Updated 8/14/2013

 
 By PEARSON BURKE    Opinion

Market perspective

This past week wheat markets experienced a bit of a rally from their recent lows. Winter wheat harvest moved past the halfway mark and now stands at about 70% complete nationwide. More times than not that signals a rally in the... — Updated 7/17/2013

 
 By Pearson Burke    Opinion

Market Perspective

The USDA’s Grain Stocks and Planting Intentions Report, which came out last Friday, was quite a shock to the market. After all the excessive rains the Midwest and corn belt experienced this spring, causing flooding and planting d... — Updated 7/4/2013

 

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