It's the end of the month and that means it's a transition to March futures, end of the month position squaring and it's time to start deliveries for March contracts.
Crop insurance base prices are set using the average of February futures. Right now, it's $3.95 for corn and $10.19 for soybeans.
USDA comes out with its planting intentions report on March 31. Farm Futures will release theirs the week before.
If you're heading to Commodity Classic, catch Bryce Knorr at the Great Grain Market Debate. Bring your questions.
Senior Editor Bryce Knorr offers his insight into trade, listen using the audio tool on this 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.