Welcome to the demand-driven market

USDA’s June supply and demand report “normally isn’t a big deal,” says Jerry Gulke, president of the Gulke Group. But this year is different, as the falling carryover and rising export numbers showed. “This is a demand-driven market, and people are finally coming to realize that we’ve talked about for months—that demand is the issue, not how many grain stocks we have in our backyard in the United States.”