If prices falter, as they often do in early April, don't blame it on Wednesday's USDA supply and demand reports for April. The agency cut its forecast of corn ending stocks more than anticipated, and soybeans also got a reduction, thanks to some funky math from the agency. Wheat's numbers were bearish, sending that market lower, but corn and beans also faltered after initial surges to new highs. Senior Grain Market Analyst Bryce Knorr takes a look at the reports, and the outlook for futures headed into the start of the planting season.
Watch the conversation using the video link below.
Bryce Knorr, Senior Market Analyst, Farm Futures, first joined Farm Progress in 1987. In addition to analyzing and writing about the commodity markets, he is a former future 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 Market Review on FarmFutures.com, he writes weekly reviews for key commodities and crop inputs. A journalist with 38 years of experience, he received the Master Writers Award from the American Agricultural Editors Association.
The Buzz is a weekly video feature where the Farm Futures team takes a more in-depth look at key topics impacting the markets. It is often updated on farm market report days as well.