Calm overnight markets try to consolidate

Calm overnight markets try to consolidate

Traders eye money flow and weather as futures hold. (Audio)

Choppy trade overnight hasn’t brought out a lot of new selling, allowing futures to consolidate Monday’s surprise turnaround. While corn planting was fast last week, heavy rains could stall progress as May begins. Outside markets are mostly in a holding pattern, waiting for Wednesday’s statement on monetary policy from the Federal Reserve.

 Knorr discusses overnight market moves with Bryant Gill, Wisconsin Farm Report, sitting in for Pam Jahnke, and you can listen using the audio tool on this page (just scroll down).

Monday's surprise turnaround, and little selling overnight, shows some consolidation of positions.

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.

TAGS: USDA
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