Bearish USDA reports out Tuesday derailed the corn and soybean markets, but futures are trying to bounce back this morning after selling in Asia failed to generate momentum. Wheat is the leader of the complex, attracting follow-through buying after yesterday’s chart reversals higher. Stocks are lower after yesterday’s run to records on Wall Street but commodities are higher generally despite safe haven buying from investors.
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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.