While funds were generally selling crops last week traders are looking for index funds used by investors to buy this week on the close, as part of their annual rebalancing. One of the big funds is scheduled to increase its weightings of corn, soybeans and wheat as talk of inflation has piqued interest in commodities. Today’s trading is mixed on that count, with a strong dollar weakening crude oil as gold emerges as the safe haven of choice amidst volatile currency markets.
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Senior Editor 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. And you can follow Farm Futures throughout the day on Twitter at www.twitter.com/farmfutures.