Will USDA report be a turning point?

Will USDA report be a turning point?

Futures firm ahead of new crop estimates. (Video report)

Grain futures are steady to higher this morning, gearing up for release of updated production, supply and demand estimates from USDA at 11 CST. While big changes are not anticipated, charts for corn and soybeans suggest today could be a turning point giving markets a chance to move beyond harvest lows. January soybean futures are getting a head start on that play be trading back above $10.

Watch the latest Facebook Live posting from Bryce Knorr, and be sure to like or follow the Farm Futures Facebook page.

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. His other weekly reviews on basis, energy, fertilizer and financial markets and feature price forecasts for key crop inputs. A journalist with 38 years of experience, he received the Master Writers Award from the American Agricultural Editors Association.

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