USDA forecasts hang over trade into nervous weekend

Markets mixed as rebound effort stalls

USDA forecasts hang over trade into nervous weekend. (Video)

Grain futures tried to rebound a little overnight from Thursday’s sharp break, but selling into the start of trading in Europe stalled that effort. USDA’s forecasts for much larger than expected corn and soybean crops kept the market under pressure despite a host of questions about the accuracy of the numbers. Nervousness from outside markets isn’t helping the rally effort, either. Investors are headed to the sidelines across the world, bracing for a possible confrontation between the U.S. and North Korea.

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Bryce Knorr first joined Farm Futures Magazine in 1987. In addition to analyzing and writing about the commodity markets, he is a former futures introducing broker and is a registered Commodity Trading Advisor. He conducts Farm Futures exclusive surveys on acreage, production and management issues and is one of the analysts regularly contracted by business wire services before major USDA crop reports. Besides the Morning Call on www.FarmFutures.com he writes weekly reviews for corn, soybeans, and wheat that include selling price targets, charts and seasonal trends. He also produces regular outlook reports on basis, energy, fertilizer and financial markets and feature price forecasts for key crop inputs.

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